TEMPLE, Texas (KWTX) After years of vacancy and dropped investors, the historic Hawn Hotel and Arcadia Theater in Temple are months away from the start of a renovation project.
After years of vacancy and dropped investors, the historic Arcadia Theater as well as the Hawn Hotel in Temple are months away from the start of a renovation project. (Photo by Megan Vanselow)
The Temple City Council Thursday approved a resolution to increase the amount the city will contribute to the project.
In 2018 the city agreed to pay $550,000 and developer, Turner Behringer, agreed to pay $6 million.
Now, Turner Behringer says the cost of the project has doubled to $12 million, so the city voted to up its incentive as well, contributing another $450,000 for a total of $1 million coming from the city.
Some of that money is coming from the city budget, but most will come from Reinvestment Zone 1 funds, which are used to encourage businesses to invest in downtown.
"Whenever you have a big company that's willing to invest in downtown and include these iconic landmarks and rehabilitate them to their former glory and to make something beautiful out of them that's really what we are asking for," city spokeswoman Laurie Simmons said.
Turner Behringer told the city the project will now be completed in one phase instead of three.
What the buildings will house is still to be determined as the project is still in its design phase.
Construction is set to begin in 2020.