HAMPTON, Va. – The former Macy’s site at the Peninsula Town Center is planned to be the new home to a $12.5 million hotel.
Hampton’s Economic Development Authority agreed Tuesday to provide a number of economic incentives to the developer of the hotel.
The developer, in a statement from Peninsula Town Center Media, said: “We are excited to further develop and enhance Peninsula Town Center. The new hotel will provide both business and leisure travelers market-leading accommodations in a convenient location near I-64. Guests will enjoy dining, shopping and entertainment all within a short walking distance of the hotel.”
The City said one of the council’s goals has been to increase economic growth in Hampton, stating boosting the number of convention-quality hotels would help with his goal.
City Council will still need to approve the “term sheet and cooperation agreement” when they meet on Wednesday.
The hotel would join many shops and restaurants that make up the center already, including Francesca’s, Barnes & Noble, CineBistro, and Outback Steakhouse.