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Mall of America gets luxury hotel on the Fed's dime
Good news for mall junkies: Bloomington, Minnesota's vaunted Mall of America will get a luxury hotel in the near future -- thanks in part to federal stimulus funds. Plans for the hotel have been in the works for several years, but had to be quashed two years ago due to lack of funding, says USA Today.
Now, Hennepin County officials have granted the Bloomington Port Authority the ability to issue $40.3 million in tax-free bonds to help fund the $130 million venture. The hotel is set to be 12 stories, and connected to the MOA via a skyway. And though it's not yet clear who will manage the property, Starwood, Radisson and Marriott are all up for the gig.
The federal stimulus funds were made available to projects that were "significant and shovel ready" and located in economically depressed areas. Proponents of the hotel say it will bring much-needed jobs to the area, and will pay for itself in revenue. But critics argue that building a luxury property probably isn't the best use of federal funds. What do you think, Gadling readers?
[photo by Flickr user cliff1066]
Filed under: North America, United States, Hotels and Accommodations, News
Reader Comments (Page 1 of 2)
Richard Aug 20th 2010 11:41AM
Another hotel for the MOA area and on our dime? I think the fix is in. If someone wants a hotel, let them build it.
LIZ Aug 20th 2010 3:00PM
Honestly, I doubt they will get much business being a luxury hotel in the Bloomington area. Most people who travel to MOA are families looking for a bargain stay. Good luck!
Beverly Aug 21st 2010 6:21AM
Haven't we learned anything by now = If you can't afford it don't get it. This hotel couldn't afford to built it so they got the money off the government which is actually from us taxpayers. I have been to the Mall Of America and I doubt this hotel will do that well there.
The Duck Aug 21st 2010 6:45AM
These self endulging, corrupt liberals want a comfortable hotel to stay at - on your dime, OF COURSE!
Smitty Aug 21st 2010 7:38AM
Nice try Duck, except that the Bloomington mayor who pushed the project is a Republican.
Lisa Aug 21st 2010 8:16AM
I'm a liberal and don't feel the hotel is a good idea. What a waste of money! There is already a lot of hotels around there - what about them?
Chuck Bentley Aug 21st 2010 3:29PM
Just like those Liberal Republicans to do something like that!
geomcd Aug 21st 2010 7:37AM
We should not pay taxes for private enterprise AND the government should not be taking over private companies either!
arthur lee davis Aug 21st 2010 7:51AM
With IKEA, and a host of other well known brands on location at THE MOA; It does seem to me to be a waste of the taxpayers money, for a luxury hotel, to now be included.This is a beautiful mall with many retail outlets,however, it is not RODEO DRIVE, NOR IS IT CORAL GABLES, AND NO INDICATIONS OF BECOMING A FIFTH AVENUE . --------------------- Give Me A Break, Child Please .
J Johnson Aug 21st 2010 8:58AM
If there was a strong demand for a luxury hotel at the Mall of America, private companies with strong financial integrity would be lining up to build this hotel. It is simple economics, if there is a high probability of achieving strong cash flow and profits - this hotel would have been built years ago. If a luxury hotel so important to the Mall of America, why have not the Mall owners built this hotel?
"If you build it, they will come"...is a recipe for failure. Like all other business, it is the law of supply and demand that will determine which hotel will be successful.
There are thousands of hotel rooms surrounding the Mall of America. In the past there was a hotel adjoining the Mall of America that certainly met the "luxury" criteria. But it is no more. What does that tell you?
Creating jobs is not a real good reason to justify building a hotel. Consummer demand for a luxury is what should justify this project, not a one-time slush fund.
Trixie Aug 21st 2010 9:20AM
There has never been a hotel "adjoining the Mall of America". I have lived here my whole life and to to the MOA at least once a week. Just like when they did the nationwide search for the best sites to build this mall, Mps/St Paul won because it is very white collar, high tech, high disposable incomes. The area is very cosmopolitan and there is alot of money there! They literally have people flying in on charters from as far away as Japan every day, and have more visitors every day then Disney World! There were nay-sayers when this was built that it would never work, and they have proved them all wrong. We need a higher end hotel attached, as the other ones surrounding it are good, but not 4 or 5 star. I have no doubt this hotel will succeed. I can't wait!
Jahred K Aug 21st 2010 9:18AM
Totally idiotic. No purpose whatever in wasting the peoples money on a luxury hotel. Stupid Stupid Stupid. But what would you expect from a state that elected that human Bu$$Plu%$ Al Franken for Senator? Or that jack$## Mark Dayton.
Minnesota - you may not know better but we are all embarassed for you.
Go Farve!
Jahred K Aug 21st 2010 9:34AM
Yea, Smitty. That's why there's a Tea Party. Stupid PROGRESSIVE Republican. As big a bum as the rest. Havn't you been watching Glenn Beck? What, have you been on vacation with the Obama's??
Chuck Aug 21st 2010 10:56AM
There's a reasonable Motel 6 not that far from the overrated MOA. I hate that place (MOA) & only go there to catch the Light Rail Train.
Chuck Aug 21st 2010 11:08AM
Yeh Jahred K Minnesota sucks big time but right now I can't afford to live anywhere else.
Rent is actually cheap here but if you can tell me how to find a good deal in California please LMK. I love Cali but the economy forced me back here. I have been trying to get out of Minnesota for all my adult life and I always end up back here. So tell me where I can get a cheap place to rent in North Cali or Northern Nevada,
Thanks.
Joel Aug 21st 2010 11:18AM
I guess all of you have jobs and aren't construction workers, being a laid off electrician for over a year now I would like to work there. If we never spend any money to build anything then thousands of people and families that made good money and had benefits will continue to struggle. We can't all work at home depot and live off of that.
shelly Aug 21st 2010 12:05PM
What a waste .... total waste. I guess some people haven't quite gotten the message that Americans received a wake-up call: We can no longer be a nation of mindless consumers. WE NEED TO BE PRODUCERS. The MOA is a shrine to the idiocy that helped to get us into this mess in the first place. Luxury Hotel at a freakin' mall??? Give me a break.
I bet if someone took the time to do a total inventory of every item that is sold at the MOA, most of what they sell is made in Asia.
Mookie Aug 21st 2010 12:44PM
The stimulus did not buy a hotel. The stimulus bought the JOBS to build the hotel. Constuction alone will employ 3000 people. Then when done the hotel will employ 1000.
LOL.... a Lux hotel in Minnesota is not the same thing as a Lux hotel in New York.
Lique2u Aug 21st 2010 1:10PM
I was born and raised in the Twin Cities area. Believe you me, Bloomington, MN is NOT an "economically depressed" area. Bloomington, MN is a suburb of Minneapolis, and A LOT of well-to-do people live in that city. Unbelievable!!!
Now, if they were to create jobs in an economically depressed area, they would do well to create jobs in, or near, North Minneapolis, or South Minneapolis.
Why on Earth would you create jobs in a city where rich people already live?! Where's the logic in that bright idea?!
cliff Aug 21st 2010 1:20PM
maybe the homeless could use it.
its stupid to use our money to build it,with so many people needing a place to stay.