The Ocala City Council will review a nearly $3 million incentive package for the revitalization of the Hotel Marion property in downtown Ocala, including the waiver of building permits and impact fees, the donation of a $1.25 million parking lot, and the payment of a $650,000 grant over five years.
During its regular meeting on Tuesday, the Ocala City Council will review a redevelopment agreement between the city and Marion Opportunity Zone Investment I, LLC, for the rehabilitation and redevelopment of the historic Hotel Marion.
Located at 108 N Magnolia Avenue, the property is owned by Marion Opportunity Zone Investment, which is a company registered to local businessman David Midgett. Midgett, who spent years acquiring the condominium units that comprise the building, partnered with ARK Hospitality on the project to create a boutique hotel that is part of the Hilton Hotels “Tapestry” Collection. The new hotel is being developed by Collage Design and Construction Group, which is based in Lake Mary, Florida. The architect on record is Donahue Architecture…