DES MOINES, Iowa
A proposed $101 million convention hotel for downtown Des Moines cleared another round of obstacles after The Iowa Events Center Hotel Corp. Board—a nonprofit established to oversee the project—approved a list of six agreements outlining the hotel’s design and funding.
In addition, the Des Moines City Council approved a development agreement between the IEC Hotel Corp. and Polk County. According to The Des Moines Register, the 330-room Hilton will be built on the southwest side of the Iowa Events Center and should be open by Dec. 31, 2017.
The newspaper also reported that hotel developers are looking to secure $20 million through the EB-5 federal program, related to job creation and residency for foreign citizens. The program ends Dec. 11, 2015.
Construction on the hotel is scheduled to begin in February or March of 2016 and demolition of the vacant building currently at the site is expected to begin in early December 2015.
