Jefferson City conference center moves into design phase
JEFFERSON CITY, Mo. (KMIZ)
Jefferson City is planning for a conference center and hotel at the site of the old News Tribune building but it will take some time before construction begins.
"It's going to be a while before we start construction on the project," said Luke Holtschneider, president of the Jefferson City Regional Economic Partnership. "Right now we're just finishing up the market study and parking study for the development. Next we'll we'll get into a conceptual design phase," he said.
Recommendations from the hotel/conference center market study published last week include 250 hotel rooms, an 18,000 square-foot ballroom, a junior ballroom, a board room, a pre-function spot, restaurants, bars and a cafe, coming to a total of 36,000 square feet of meeting space.
"Now that we understand what the demand and opportunities are," said Holtschneider. "Now working with an architectural firm on what a conceptual layout of those different programs on that site looks like, along with the parking."
Holtschneider says the next step includes putting together the cost of construction and conceptual design of the center to help understand cost estimates. Once that is completed, they will put together a construction timeline and create the capital financing structure.
Holtschneider says the goal start date of construction to the conference center would be around this time next year, which would include the demolition of the Madison Street parking garage.
"Prior to that garage being torn down, we would want to make sure that we have all the plans and the financing in place so that immediately upon it being demolished, we're able to begin the construction of the new facility," Holtschneider said.
Ward three Councilwoman Treaka Young says the city is waiting on a feasibility study to get an estimate of the cost of building the center.
"they actually give us some kind of idea of how much more we need to actually cover the cost," Young said. "We're looking at, about $100 million or plus to actually fund this project."
The hotel and conference center is set to open on June 1, 2027.
Young says the city council has been involved in this process and that the conference center would help businesses in the area.
"Having this conference center will, allow them to be able to bring that business back to Jefferson City, so we've been in, we've been very involved in making sure that it's exactly what Jeff City not only needs, but wants," Young said.
The market study states if the hotel was at least 60% occupied, it would see about $9.4 million in revenue in 2028. In 2029, with 64% occupancy the hotel and conference center would generate around $10.5 million.
