project-update 18419

3CDC is working with City and County officials to assemble the legal and underwriting team needed to structure the project’s financing. Aided by the support of the local hotel community, Hamilton County Commissioners recently approved a 1% increase in the County’s Transient Occupancy Tax. This will provide a critical source of revenue for project financing.

Currently, the project team is in the process of selecting design-assist subcontractors for the mechanical, electrical, and plumbing (MEP) scopes. Schematic design drawings for the building renovation have been completed and the team is working to update the construction budget.

Lastly, the park that will be built on the former Millennium Hotel site is in schematic design and will be completed in the coming weeks.