Later this afternoon we’ll be hearing an official announcement from the Franklin County Convention Facilities Authority (FCCFA) about the long-awaited new Convention Center hotel project that is finally moving forward.
The new project will be located just across High Street from the Convention Center, between Vine Street and Ohio Center Way (the access street that runs underneath the Convention Center). The new hotel will be home to approximately 500 new full-service hotel rooms and rumor has it that it may end up being a Hilton, Marriott or Sheraton development. This new hotel will compliment the existing 631 room Hyatt Regency and help to keep the Convention Center competitive for bids on larger events.
The development may also include a new 15,000 sqft ballroom, a 15,000 sqft meeting space, multiple full service restaurants and bars, and a new 300-space parking garage located underneath the hotel.
The projected cost of the new hotel is $160 million and the grand opening could come as early as December 2012. Franklin County will be backing the bonds to pay for the construction of the project.
Rumor also has it that Nationwide could be considering additional private development adjacent to the hotel on currently unused land, bringing an additional 300,000+ square feet of office and retail space to the area situated between High St, Front St, and Nationwide Blvd.
To put things into perspective, Columbus currently has 1,000 full service hotel rooms near the Convention Center. Cincinnati has 3,000, Cleveland has 2,700, Indianapolis has 4,900, and Pittsburgh has 3,400. Officials at Experience Columbus have noted in the past that the number one reason Columbus is overlooked for larger conventions is our lack of full service hotel accommodations.
And finally, It’s being reported that this new hotel will contribute an additional $35 million of direct and indirect spending in the Central Ohio economy. It will also add 550 jobs and generate $2.3 million per year in tax income.