The Council Bluffs city council voted 5-0 to approve a recommendation by the Community Development Department for a four-story, 63-unit My Place Hotel on currently vacant ground along South 35th Street and 23rd Avenue.
While many feared the push toward the end of the current cycle would dry up available financing, speakers at the recent ALIS Summer Update in Boston said money is still there for projects under $20 million.
Hawkeye Hotels, a privately owned Iowa City company, has acquired a 103-year-old hotel in St. Louis, MO. The 90-room Omni Majestic Hotel was built in 1913 in the heart of the St. Louis Central Business District, which is home to nine Fortune 500 companies. The hotel, which was acquired for an undisclosed price, operated as a Crowne Plaza before converting to the Omni Majestic Hotel brand in 1997.
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