DevelopOhio

The Montgomery County Convention Facilities Authority is on the hunt for a developer “to construct an ambitious new headquarters hotel near the Dayton Convention Center” that the city expects to cost $60 million to $80 million, the Dayton Daily News reports. The convention center “is undergoing $45 million in improvements” meant to modernize the facility, and city leaders say the new hotel “is needed to ensure downtown can compete for major conferences, conventions and other events,” according to the article. The request for qualifications (RFQ) “says the Convention Facilities Authority knows there will be a funding gap for the project,” and local officials said the hotel project “likely would be a public-private partnership” because the cost “would exceed what the private sector can afford to invest.” Financial and tax incentives and predevelopment assistance may be available for the developer. The Convention Facilities Authority “wants the hotel to have a restaurant and lounge, as well as retail, civic or engagement spaces” in a nationally branded full-service hotel with about 200 rooms. Pam Plageman, executive director and CEO of the Dayton Convention Center, said the RFQ is “a critical first step in partnering with a qualified developer to move the project forward. We are encouraged by the outreach and interest this far.” For more, read the full article.