A key part of Rock Falls’ riverfront redevelopment plans could be open for business by the end of the year.
A representative of the group building a Holiday Inn Express & Suites on Rock Falls’ downtown riverfront told the city council August 18 that construction on the 68-room hotel could be finished before the end of the year.
Rock Falls Mayor Bill Westcott says the project had to overcome several hurdles, but it will be worth it.
“Being the first thing on this site that used to serve as an industrial area, it’s the centerpiece, it’s the catalyst for everything else that we hope and are working very hard at developing in the area surrounding it.”
The hotel will employ about twenty people permanently. Westcott says the hotel is expected to generate many more jobs through the people, and additional businesses, it will help bring to the downtown.
“If this serves as the catalyst we think it will, we have other businesses and investment opportunities that are already looking at the area, that would include restaurants, some retail and commercial retail sales down there.”
The estimated cost of the project, announced in May 2014, has grown from a little more than $6 million to around seven-and-a-half million. Design changes and problems that arose during construction are blamed for the increase, and for delays that kept it from opening this summer, as originally hoped.
The city has put in nearly $1 million in economic development funds to help with construction costs. Developers have also gotten 1-and-a-half million dollars in tax credits for the project.
