No decision has been made on whether to build an on-campus hotel and conference center, University of Arkansas at Fayetteville Chancellor G. David Gearhart told faculty Wednesday at a meeting of the university’s faculty senate.
“The issue … is, we don’t want to have to put any university money into the project,” Gearhart said, while providing a rundown of campus construction. The proposed hotel would be built near buildings that are a part of the Sam M. Walton College of Business, with the conference center expected to offer priority booking to university-related events.
The university last year issued a request for proposals for the hotel project,. In June it selected Michigan-based developer Acquest Realty Advisors Inc. and operator FLIK International Corp. to move forward in project negotiations. The group was chosen over a competing bidder, University Hospitality Group.
“A lot of it’s going to be depending on tax credits. We’re looking at that very carefully, new business tax credits,” Gearhart said.
He called the approximately $30 million project “a viable possibility,” though he estimated that it would be several months before the project is “fully scoped out.” He said the project could provide space for events like alumni banquets that currently are held out of town because of a lack of space on campus.
— Jaime Adame