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Mesa advances plan for 5-story AC Hotel by Marriott
The $39 million project would include 150 rooms and is expected to trigger up to $288,000 in reimbursed construction sales taxes for the city.
The City of Mesa authorized its city manager to negotiate a development agreement for a 5-story AC Hotel by Marriott on the northeast corner of Main Street and Centennial Way, according to ConnectCRE.
The planned hotel would total 85,000 square feet and feature 150 rooms, an outdoor pool, and a lounge designed to be open to both guests and the public.
ConnectCRE said the project is slated to cost $39 million, and the city would reimburse the developer up to $288,000 in construction sales taxes generated by the work.
The deal terms would also require the developer to license up to 100 parking spaces within a parking garage, projected to generate $5 million in revenue over a 50-year term, while the hotel project would be exempt from approximately $2.1 million in property taxes under state law.