State Gives Credit To New Hotel
LANSING — The state awarded a brownfield tax credit worth $3.5 million last week to Hotel Holdings Monroe LLC, which plans to build a nine-story hotel and 8,000 square feet of retail space at Monroe Avenue and Newberry Street in the North Monroe Business District.
Hotel Holdings, which is owned and operated by the Peter Beukema family of Rockford, will use the tax credit to make improvements to the property, including demolishing the old Western American Mailers building that occupies part of the site.
The hotel will offer 250 guest rooms, a banquet room, a fitness center, a combination sports lounge and restaurant on the roof level, and parking for 395 vehicles. The Beukemas are investing $37 million into the project, which should begin this spring and take about a year to complete. The property is in the city’s Renaissance Zone.