URBANA, Ill. (WCIA) — Once again, overhauling the Landmark Hotel is on the agenda.
City leaders say Maryland-based Marksons Affiliates, LLC, will completely renovate the facility and turn it into a 120-room boutique hotel, restaurant, bar and confernce center. It will be under the Hilton Tapestry branding.
“The City of Urbana has worked tirelessly over the last five years to find a development partner for the hotel that brings the right mix of experience, tenacity, financial resources and a balanced level of risk for the City,” said Urbana Mayor Diane Wolfe Marlin. “We believe that his proposal and the team behind it is our best chance of success for this unique and historic hotel in the heart of our downtown.”
The proposed project will cost a minimum $16.8 million and be supported by at least a $5.2 million reimbursement from the city to the developer upon project completion. It’s all subject to approval by the city council which will vote on an interim agreement at its meeting Monday.