Plans for hotel at 9th and O off due to high costs

Developers with the Lincoln Hotel Group are looking for a new plan for the land they own at 9th and O street after costs for their planned high-rise hotel came in at a much higher cost than planned, Dave Landis with the City of Lincoln said. 

Landis said the group planned to build a hotel, high end condos, restaurants, parking and more. The city approved the use of $11.6 million in TIF funds to do it. 

But the cost of construction is rising, and Landis said that increased the original $72 million dollar price to a significantly higher amount. 

He said the Lincoln Hotel Group still owns the land, and will come up with a new plan. 

Landis said the Urban Planning and Development department is waiting until the new plans are brought to them to discuss whether or not the city will still give the TIF funding. Landis didn’t have an idea of when that may happen. 

We were told there is conversation about a hotel and parking that could still go in that space just on a smaller scale.