that's *** yes for me. So that would be *** unanimous vote, Tuesday night approving the first step on the development of *** 45 unit hotel on North fremont Street just down the street from the Monterey County Fairgrounds. One of the things that we hear from the community is that they would like North Fremont Street to shine to be part of the main community And to be improved. And we really haven't seen any new development on North Fremont in over 40 years. The future hotel would replace an unoccupied hotel and restaurant currently on the site. The current hotel is sat vacant for an entire year and the developer is proposing to demolish the site and to construct *** brand new hotel. But several nearby residents weighed in on the issue saying they want to see affordable housing instead. There's no harm in having extra housing because most of those hotels might be filling up with homelessness. We have homelessness by the way, on North Fremont Street and the fairgrounds area when affordable housing is desperately needed when renters are facing such horrible problems as *** priority. The community Development director says they are prioritizing affordable housing, but there are challenges like costs and especially water credits, the hotel will have to operate within the water credits on its site and it's so there will not be *** restaurant in the future hotel hotel development. So they have water credits from the restaurant, they have water credits from, I believe, additional fixtures on site. And so there will be no net increase beyond what exists there today. Beyond that, cole says, taxes paid by the hotel will support other city services, An estimated $18 million 40 years, for example, library services, Recreation services, police services. And it is one of the few opportunities we have in the city for economic development for new money to go directly into our General Fund.
City of Monterey approves first step in new hotel development
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Updated: 9:03 AM PDT May 18, 2022
On Tuesday night, the city of Monterey held a city meeting with two particular items up for discussion— affordable housing and hotel development. All five city council members voted yes, approving the first step in the development of a 45 unit hotel on North Fremont Street. City of Monterey community development director, Kimberly Cole said, “One of the things that we hear from the community is that they would like North Fremont Street to shine, to be part of the main community and to be improved. And we really haven't seen any new development on North Fremont in over 40 years.”The future hotel would replace an unoccupied hotel and restaurant on the property. “The current hotel has sat vacant for an entire year and the developer is proposing to demolish the site and to construct a brand new hotel in,” Cole said. Several nearby residents weighed in on the issue during Tuesday’s meeting, making it clear they want to see affordable housing instead. Mary Pendlay, whose been a resident for 33 years said, “There's no harm in having extra housing because most of those hotels might be filling up with homelessness. We have homelessness by the way, on North Fremont Street and the Fairgrounds area.” Another Monterey resident, who commented virtually said, “When affordable housing is desperately needed, when renters are facing such horrible problems, that incentivization as a priority troubles me.”Cole assures that the city is in fact prioritizing affordable housing but there are several challenges like cost but especially water credits. Which she says isn’t the same for the hotel development. “The hotel will have to operate within the water credits on its site in it. So there will not be a restaurant in the future of hotel development. So they have water credits from the restaurant. They have water credits from, I believe, additional fixtures on site and so there will be no net increase beyond what exists there today.” She also explains that the taxes paid by the hotel will be TOT taxes which will support several city services and that in the next 40 years, the City anticipates $18 million in hotel tax after the project is built. “For example, library services, recreation services, police services. And it is one of the few opportunities we have in the city for economic development, for new money to go directly into our general fund,” Cole said.
MONTEREY, Calif. — On Tuesday night, the city of Monterey held a city meeting with two particular items up for discussion— affordable housing and hotel development. All five city council members voted yes, approving the first step in the development of a 45 unit hotel on North Fremont Street.
City of Monterey community development director, Kimberly Cole said, “One of the things that we hear from the community is that they would like North Fremont Street to shine, to be part of the main community and to be improved. And we really haven't seen any new development on North Fremont in over 40 years.”
The future hotel would replace an unoccupied hotel and restaurant on the property.
“The current hotel has sat vacant for an entire year and the developer is proposing to demolish the site and to construct a brand new hotel in,” Cole said.
Several nearby residents weighed in on the issue during Tuesday’s meeting, making it clear they want to see affordable housing instead. Mary Pendlay, whose been a resident for 33 years said, “There's no harm in having extra housing because most of those hotels might be filling up with homelessness. We have homelessness by the way, on North Fremont Street and the Fairgrounds area.” Another Monterey resident, who commented virtually said, “When affordable housing is desperately needed, when renters are facing such horrible problems, that incentivization as a priority troubles me.”
Cole assures that the city is in fact prioritizing affordable housing but there are several challenges like cost but especially water credits. Which she says isn’t the same for the hotel development.
“The hotel will have to operate within the water credits on its site in it. So there will not be a restaurant in the future of hotel development. So they have water credits from the restaurant. They have water credits from, I believe, additional fixtures on site and so there will be no net increase beyond what exists there today.” She also explains that the taxes paid by the hotel will be TOT taxes which will support several city services and that in the next 40 years, the City anticipates $18 million in hotel tax after the project is built. “For example, library services, recreation services, police services. And it is one of the few opportunities we have in the city for economic development, for new money to go directly into our general fund,” Cole said.
