Paducah officials have announced a contract with Owensboro-based LinGate Hospitality to build a new hotel on the city's riverfront.
The five-story, 123-room Holiday Inn will be located next to the Julian Carroll Convention Center. At Tuesday's press conference, Mayor Gale Kaler called the hotel "the final piece of the puzzle" for the success of Paducah's downtown. Kaler also outlined what the city will provide to facilitate construction.
“The city is assisting the development by providing LinGate a 20 year lease on the hotel site with the property reverting to the developer at the end of that term. The hotel will also have permission to use the portion of the city owned property on the riverside of the floodwall adjacent to the convention center for hotel parking. The city will provide LinGate a one-time allowance of $900,000 for site upgrades and construction,” Kaler said.
According to LinGate Hospitality CEO Glen Higdon, the hotel will have one of the first Kentucky franchises of the Another Broken Egg restaurant chain. Higdon says the facility will be identical to their property in Owensboro.
“We’ll be under construction until October 1st, but I have been told we have to have the bond approved by the state before we can start construction. So I’m hedging a little bit on that but our timeline is moving fast. I’m only held up by what other people don’t get done,” Lindgate said.
Paducah City Manager Jeff Pederson says the ordinance’s final passage is set for a special commission meeting Thursday evening.