2002 Section 108 Project Summary - Massachusetts

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Economic Development

UPSCALE HOTEL & RESTAURANT TO ENHANCE NEIGBORHOOD REVITALIZATION
Springfield MA Hilton Garden Hotel & Uno Restaurant Project $ 5,000,000

Section 108 will help finance the City of Springfield's Hilton Garden Hotel and Uno Restaurant Project with an award of $5,000,000 in loan guarantee assistance. The 115-room hotel and 6,000 sq. ft. restaurant will be located in the City's Neighborhood Revitalization Strategy Area and West Columbus Avenue Urban Renewal Area. The City will lend Section 108 proceeds to a for-profit entity that will construct the project. Total project cost is estimated at $11,250,000, and when completed, is expected to create 135 full-time jobs, principally for low- and moderate-income persons.