Scott Stiteler and Rudy Dabdoub are teaming up for an $88 million complex at East Broadway Boulevard and South Fifth Avenue that will build two Marriott-brand hotels, and provide massive upgrades to the historic Rialto Theatre. The two partnered on the downtown AC Marriott, 151 E. Broadway Blvd., which opened in 2017.

The newly proposed project includes a 16-story hotel on the same property as the Rialto Theatre, to be shared by Element Hotel and Moxy Hotel. The two hotels would include 109 rooms in the Moxy focused on millennials, and 140 rooms in the Element Hotel, focused on extended-stay travelers.

In the October 2018 meeting the Rio Nuevo Board unanimously agreed to proceed with the financing of the project, which includes a 25-year Government Property Lease Excise Tax (GPLET), and a rebate on site-specific sales tax, with a cap not to exceed 12 percent of the total cost of the project.

 

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