Local officials are closer to building a new convention hotel in Cincinnati, but funding for the project is still a bit uncertain.
Hamilton County and city officials asked 3CDC to find a developer for a hotel to replace the Millennium. Four developers answered a request for proposals; 3CDC CEO Steve Leeper told Hamilton County commissioners Tuesday a team has chosen Atlanta-based Portman Holdings.
The building is expected to have 800 rooms, retail space, two ballrooms, a pool and an outdoor deck. It's estimated to cost more than $200 million. Construction could start by this time next year.
The plan is contingent on renovating the Duke Energy Convention Center, which would be another developer and cost another $200+ million.
RELATED: Here's what a $200 million 'convention center district' in Cincinnati could look like
Hamilton County Commission President Alicia Reece says that's too expensive, unless the building is expanded.
"We're not big enough," Reece said. "We're gonna get the same size conventions — we will not get increased conventions with only 12,000-square feet."
Leeper says a bigger convention center would be great, but it's too expensive.
"You can't really expand until you first clean up your house; you can't just add a room on if your house is in shambles," Leeper said. "And that building is in bad shape. You can go to any peer city —Louisville, Columbus, Pittsburgh, Cleveland, Indianapolis — our convention center is an embarrassment and we need to do something about it. And we're trying to take it in baby steps."
RELATED: Hamilton County commissioners are skeptical about paying for a 'convention district'
In all, the planned "convention center district" could include several sites and cost more than $480 million. About two-thirds of that would come from refinancing bonds and directly from the city and county budgets. Officials say there are a couple options to fill the gap, including an increase to the transit occupancy tax (what hotel customers pay).
