LOCATION
Des Moines, Iowa
PROJECT HIGHLIGHTS
Mixed-Use District Hotel Development
Two stage developer solicitation process
Full analysis for hotel and associated 25-acre TIF district
Analysis to develop hotel as a public project
Project has been approved and is advancing
PROJECT DESCRIPTION
Johnson Consulting, Inc. was retained by the Greater Des Moines Convention and Visitors Bureau (GDMCVB) to assist in their analysis of a proposed Hotel to serve the Iowa Events Center in Des Moines, Iowa and promote further economic development and economic impact on related uses in the downtown. Johnson Consulting completed a full feasibility analysis for the hotel, prepared documentation and assisted in a two-stage developer recruitment process. We also prepared T.I.F. projections for hotel, retail, residential and office development for a 25 acre District.
To complete this assignment, Johnson Consulting analyzed economic and demographic characteristics of Greater Des Moines; toured, collected data, and analyzed existing hotels in the area; evaluated the primary hotel set’s performance and the impact the potential Hotel would have on both supply and demand in the submarket; assessed the experience in other similar-sized markets and drew lessons relevant to Des Moines; developed the Hotel’s operating proforma; estimated the Hotel’s economic and fiscal impact; and advised on the appropriate level of involvement from private vs. public sectors as well as various financing options.
This report was used by the City, County and State to approve a TIF for a 25-acre mixed-use development. The uses included retail, hotel, and some residential.
