Sheraton Crown Center Emerges While Historic Cosby Hotel is Saved
- Jul 29, 2011
Starting January 2012, the Hyatt Regency Crown Center will be known as the Sheraton Crown Center following a management agreement between Crown Center Redevelopment Corp. and Starwood Hotels & Resorts Worldwide Inc. Kansas City Business Journal reports that the deal will include, apart from the two Crown Center Hotels, the Milano Italian Restaurant and the Crayole Cafe.
Crown Center and Starwood intend to invest over $18 million in the two hotels over the next three years. The former Hyatt will receive considerable upgrades, including a new front drive and general lobby renovations. The 52,000 square-foot Crown Center Exhibit Hall which is parallel to the Sheraton Crown Center will also be operated by Starwood according to the same source.
The historic Cosby Hotel has also made news this week. The Kansas City Star reports that the 130-year-old landmark has been purchased by Sunflower Development Group. A rough winter and humid spring had taken a toll on the brick facade of the building and city officials had labeled it as dangerous, requiring immediate demolition.
A Facebook campaign embraced by hundreds of residents managed to buy some time for the hotel and a continued effort by the Downtown Council has sealed a new lease on life for the historic three-story building.
Part of the purchase agreement specifies that Sunflower has to carry out repair work within 120 days. Meanwhile the group will apply for state and federal historic tax credits, as well as a modification of the tax-increment financing plan approved for the building in 2005.