Cross-posted from OC Daily.
On Tuesday, the Anaheim City Council voted 3-1 to approve three new 4-Diamond hotels that when completed will mark the most dramatic transformation of the Anaheim Resort since the opening of California Adventure.
Two of hotels will go up on the sites of existing hotels,, which will be demolished. The third is being built by Disney – only the second hotel it has built in the Resort (the other being the Grand Californian Hotel). All three are expected to be completed in two years.
What Was Approved
The Disney project (as yet unnamed) will be approximately 700-rooms on a 10-acre section of the Downtown Disney parking lot. The $624.7 million project will create 5,050 construction jobs and 1,150 permanent jobs, the large majority of which will be full-time.
The other two hotels are being built by the Hong Kong-based Wincome Group. One is a 580-room, 8-story hotel on the 8.8 acre site currently occupied by the 55-year old Anaheim Plaza Hotel & Suites – which will be torn down. It will cost an $330.7 million and generate 1,970 temporary construction jobs and 470 mostly full-time permanent jobs.
The other will be built where the 358-room, 3-star Ana Bella Hotel now stands: a $306 million, 634-room 4-Diamond hotel that will generate 1,968 construction jobs and 514 permanent jobs.
All three projects were approved for participation in Anaheim’s Hotel Incentive Program, under which the hotel owner receives tax rebate equal to 70% of the annual transient occupancy tax (TOT) tax for a term of 20 years. Of the remainder, 20% goes to pay Resort District bond debt and 10% goes into the general fund.
No 4-Diamond hotel has been built in Anaheim in more than 15 years, The program was created in 2015 to incentivize their construction; none of these projects would have been brought forward absent to TOT tax rebate program.
During the 20-year term of these agreements:
You can read the rest of the article here on OC Daily.net.