West Bank Re-Development Moving Forward

With the recent announcement of a major hotel project, the West Bank Re-Development area is starting to see some activity.  The new Federal Courthouse has really begun to take shape and is on track for completion in early 2009. 

Brad Talcott of West Bank Properties is working toward a development that will include a 113 room Staybridge Suites, a division of InterContinental Hotels Group.  The Talcott’s have owned the property since the 1970’s and have been looking toward a higher and better use for some time.  The hotel is intended to be the anchor tenant for a mixed-used development that could eventually include a restaurant, retail and office space.

In addition to working with Stockman Bank for financing, GFDA is processing a $2 million Small Business Administration 504 loan for the project.  An application is also being pursued with the City for tax increment financing.