Developers differ on use of downtown land

Both appeared before the commission in charge of a tax-increment financing district that encompasses the site. The commission will recommend one of four development proposals to Springfield City Council.

Rick Huffman with HCW Evergreen LLC of Branson proposed a 15-story, four-star hotel under the Hilton or Embassy Suites brand. The hotel’s upper floors would house 30 high-end residential condos. The lower floors could contain roughly 300 rooms renting for an average rate of $150 a night.

HCW’s market research indicates that the hotel, which would also include at least 10,000 square feet of meeting space and 23,000 of ballroom space, could sustain a 65 percent occupancy rate, Huffman said.

But representatives with John Q. Hammons Hotels & Resorts, which owns University Plaza hotel opposite the city-owned parcel, said another downtown hotel is not feasible.

“We at John Q. Hammons Hotels just couldn’t make it work,” said Scott Tarwater, the company’s senior vice president of development.

Instead, Hammons is proposing a five-story, 120,000-square-foot office building to accommodate accounting firm BKD LLP, a tenant that is currently leasing space on seven floors in Hammons Tower just to the east. The building’s first floor would offer upscale restaurant/retail space, Hammons representatives said.

The other proposals include a pair of office buildings built and owned by BKD and an administrative complex that would house Springfield R-XII Schools and Springfield-Greene County Parks employees.

The commission is scheduled to discuss the proposals at a March 5 meeting.

See SBJ’s March 5 issue for more on this story.[[In-content Ad]]