-
Photo credit: VD Photography – Pictured from Left to Right: Corey Pearson(TRCC Executive Director), John Payne (Fowler GC), Taran Patel (A1 Hospitality), Mayor Gretl Crawford, Kamran Hasan (CEO MHR Capital), Calvin Dudney(President TRCC), Erin Erdman (Kennewick City Manager), Vijay Patel (President A1 Hospitality), and Ken Hohenberg(Commissioner, Port of Kennewick)
MHR Capital Group, in partnership A1 Hospitality Group, and Fowler Construction, has started construction on a brand new AC Hotels by Marriott at Kennewick, Washington.
A MHR Capital Group will build a hotel in Kennewick. This project is a collaboration between A1 Hospitality Group & Fowler Construction. It marks the introduction to Tri-Cities of the AC Hotels brand by Marriott. The hotel’s expansion is closely linked to that of the Three Rivers Convention Center, which will increase the capacity of the Tri-Cities area to host national and regional events.
The development, which is located in a Qualified Opportunity Zone (QOD), was designed to provide tax benefits to investors as part of the 2017 Tax Cuts and Jobs Act. Idaho Central Credit Union through Bellevue Capital Group covers the project’s debt financing.
This project is part of an overall master plan which includes over 550 units of residential space and more that 200,000 square foot of retail space. The Opportunity Zone offers tax advantages to this development.
Construction of the hotel is an important addition to Kennewick’s hospitality industry and part a wider economic strategy that aims to boost local economic activity by increasing event tourism and retail. It is expected that the connection with the TRCC expansion will significantly increase the area’s attraction as a destination of large-scale events.
