A seven- to eight-story hotel is in the works for a $35 million mixed-use development just off exit 210 of Interstate 69 in Noblesville.
The proposed 190-room Embassy Suites hotel would have an attached 20,000-square-foot conference center on a 15-acre property to the west of Olio Road between I-69 and Tegler Drive. The development will also include space for up to four sit-down, non-fast food restaurants, according to city documents.
Bharat Patel, chairman and CEO of Sun Development & Management Corp., is leading the project.
The city is offering to reimburse the developer $4 million for construction of the conference center and $2 million for land development expenses, and will use a bond to make those payments.
The developer would be required to pay property taxes on the hotel and restaurant lots, but city officials are considering 10-year, 100-percent real and personal property-tax abatements for the conference center. The estimated savings to the developer were not immediately available.
Noblesville is also waiving development fees under the proposed arrangement.
A resolution outlining the agreement is expected to be introduced to the Noblesville City Council when it meets Tuesday night—and it could be voted on.
Project documents show a hotel and conference center on 6.2 acres in the center of the property with a 367-spot parking lot and land for future restaurants surrounding it on both sides.
A Cambria Hotel & Suites is already open nearby at 13500 Tegler Drive and a Holiday Inn Express & Suites with 125 rooms is planned next door.