On Tuesday night, the Longmont City Council approved the land transfer for the lots that will house the new boutique hotel at the corner of Third Avenue and Kimbark Street.
The city of Longmont staff discovered that the ownership of the lots located in the 300 East parking lot was owned by the city of Longmont rather than the Longmont General Improvement District.
The lots included 33,36,37,38,39 and a six-inch strip on the north side of lot 40.
The city council approved a quit claim deed — a document used to transfer property from one person to another — on Tuesday night.
The Thrash Group out of Mississippi will construct the 84-guest-room hotel and two-story parking garage on the lot. The hotel will feature a 5,000-square-foot rooftop restaurant space and 2,000-4,000 square feet of meeting and commercial space. The hotel is expected to cost $24.5 million to build.
The hotel has been a 30-year goal for Downtown Longmont. It is expected to generate $6 million in sales, lodgers’ and property taxes and utility revenue over 10 years.
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