City leaders in West Valley City have landed the four-star hotel they yearned to include in the City Center urban renewal project — thanks to a creative financing deal that means the city’s Redevelopment Agency will own the building for 25 years. An eight-story Embassy Suites, estimated to cost about $23 million, is expected to break ground in July at 3500 South and Market Street (2842 West) and open next year.
To finance the project, the West Valley City Redevelopment Agency will borrow about $30 million from a private lender, and will own the hotel. Salt Lake Tribune
