Powhatan Point Riverfront Resort Phase 4

Hotel Conference Center, RP-10

 

The Powhatan Point Hotel Conference Center Revitalization District RP-10 (shown in Figure 1) is represented as the peninsula of the downtown district, where the Captina Creek merges with the Ohio River.  Although several structures exist in the area outlined, the majority of the land is unoccupied.  RP-10 Revitalization District covers approximately 4.3 acres or a 187,425 sqft footprint (120 x 670 x 615 x 510 feet).  The land is owned by several owners, who will be approached to invest their properties as part of a land bank assembly Group that will leverage their respective investment into the significant value of the hotel.

 

The location is ideally suited for hotel conference center facilities because it: (a) is at the center of the large oil and gas exploration area dictating worker short-term residences; (b) has no competitive conference center or hotels are within 14 miles; (c ) represents an attractive landmark with atheistic view of the river and creek; and (d) serves as conference center to attract technical/business conference interests to utilize the hotel/entertainment/recreation facilities, as part of the resort theme and north-mid eastern destination site.

 

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Figure 1.  Powhatan Point Hotel Conference Center RP-10 Current Use View.

 

The proposed Phase 4 land use for Revitalization District RP-10 is based upon the need for a hotel conference center, that is the anchor tenant of the larger Powhatan Point downtown cultural arts revitalization district as shown in Figure 2.  Aside from the role played to revitalize the downtown district the RP-10 Revitalization Hotel Conference Center Project offers a significant benefit to the community (see Hotel Conference Center Project  Plan).

 

   (a)  in adding employment jobs for 110+ individuals;

   (b)  as potential purchasing asewer of 250 quests per day to a level of $100K per week,

         that represents $5M a year to the community retail businesses; and

   (c)  significantly enhancing the tax revenue to the town based upon $52M ratable versus

          <$2M existing ratables for the current property, which based on a 1% tax rate

          represents increased property tax revenue of $500K/year and city    hotel/

          conference/exhibit city taxes offers $568K (tax increment financing (TIF) would

          reduce property tax revenue from $500K to $125K for the first ten years - $375K is

          applied as an investment  into the project by the community).

 

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Figure 2.  Powhatan Point Hotel Conference Center RP-10 Structure Concept.

 

Hotel is constructed as 7 story facility supporting: two levels of parking for 592 spaces; a high ceiling 20’ lobby level with a 8,100 sqft Exhibit/Conference Halls, 4,000 sqft of conference space, main lobby/retail/offices; restaurants; central entertainment/social meeting/sports bar, inside/outside recreational facilities and pools (see Figure 3); and four levels of hotel rooms (341 rooms), see Figure 4.   The interior supports an atrium design The combination of hotel rooms with exhibit/ conference and auditorium serves as an attractive convention center and tourist location.  Being located adjacent to the planned Cultural Arts District, Museums and related riverfront hub and performing arts center provides ready patronage.  Utility (efficient through green energy recovery methods), maintenance and security support are centralized which reduces operation costs significantly.

 

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Figure 3.  Powhatan Point Hotel Conference Center RP-10 M3 Level.

 

 

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Figure 4.  Powhatan Point Hotel Conference Center RP-10 R4-6 Levels.