Des Moines council to vote on preliminary agreement for East Village hotel
Monday, May 05, 2014 3:17 PM
The Des Moines City Council will vote on the details of a preliminary agreement for a boutique hotel that Heart of America Group plans for the East Village. The plans call for the city to return $550,000 of proceeds from the sale of a city-owned parking lot at the southeast corner of East Fourth Street and Grand Avenue and the return of 80 percent and and estimated $3.8 million in tax increment finance funds over 20 years. Heart of America plans a six-story, 100-room hotel with underground parking, a rooftop lounge and a small fitness center. The hotel would operate under the AC by Marriott flag, a brand that currently operates in France, Italy, Portugal and Spain. Click here for a related story in the Business Record.