{"id":1193900,"date":"2023-01-13T11:46:32","date_gmt":"2023-01-13T17:46:32","guid":{"rendered":"https:\/\/ktbb.com\/post\/?p=1193900"},"modified":"2023-01-16T10:37:27","modified_gmt":"2023-01-16T16:37:27","slug":"city-approves-economic-development-agreement-for-former-carlton-hotel-revitalization","status":"publish","type":"post","link":"https:\/\/ktbb.com\/post\/?p=1193900","title":{"rendered":"City approves economic development agreement for former Carlton Hotel revitalization"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ktbb.com\/post\/wp-content\/media\/2023\/01\/C-2-175x99.png\" alt=\"\" width=\"175\" height=\"99\" class=\"alignnone size-medium wp-image-1193906\" srcset=\"https:\/\/ktbb.com\/post\/wp-content\/media\/2023\/01\/C-2-175x99.png 175w, https:\/\/ktbb.com\/post\/wp-content\/media\/2023\/01\/C-2.png 182w\" sizes=\"auto, (max-width: 175px) 100vw, 175px\" \/>TYLER &#8212; Plans for revitalization of a Tyler landmark are moving forward following action Wednesday by the City Council. According to a news release, the Council approved an Economic Development Agreement with NORF Development Company for $1.5 million to incentivize redevelopment of the former Carlton Hotel.\u00c2\u00a0NORF purchased the East Elm Street building in 2021 and intends to invest more than $30 million in the property. Officials say due to current market conditions &#8212; including construction cost escalations, inflation, interest rates, and the remaining effects of the COVID-19 pandemic &#8212; moving the project from final design to construction has been challenging.\u00c2\u00a0Staffers say the City of Tyler will disburse the funds to NORF once the building is substantially complete.\u00c2\u00a0<!--more-->  <\/p>\n<p>&#8220;The Carlton Hotel is a historic icon in Downtown Tyler,&#8221; said Stephanie Franklin, Deputy City Manager, as quoted in the release. &#8220;However, the current condition of the building has contributed to substantial blight in the Downtown district, and it poses a public health and safety risk.&#8221; Promoting the revitalization and historic preservation of Downtown Tyler is a major initiative of the Tyler 1st Comprehensive Plan, termed a 20-year community-based vision with a strategic framework for future City actions. Once the project&#8217;s finished, the property will offer 15 stories of apartments with more than 100 units featuring high-end finishes in a high-rise setting with unobstructed views of Tyler, according to the release. Officials say with more living options available, there are anticipated increases in consumer spending and the area&#8217;s tax base.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TYLER &#8212; Plans for revitalization of a Tyler landmark are moving forward following action Wednesday by the City Council. According to a news release, the Council approved an Economic Development Agreement with NORF Development Company for $1.5 million to incentivize redevelopment of the former Carlton Hotel.\u00c2\u00a0NORF purchased the East Elm Street building in 2021 and &hellip; <a href=\"https:\/\/ktbb.com\/post\/?p=1193900\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">City approves economic development agreement for former Carlton Hotel revitalization<\/span><\/a><\/p>\n","protected":false},"author":62,"featured_media":1193915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/ktbb.com\/post\/wp-content\/media\/2023\/01\/C-2-175x99.png","fifu_image_alt":"City approves economic development agreement for former Carlton Hotel revitalization","footnotes":""},"categories":[177],"tags":[],"class_list":["post-1193900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news-archive-archives"],"publishpress_future_action":{"enabled":false,"date":"2026-06-21 23:20:15","action":"change-status","newStatus":"trash","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"fifu_image_url":"https:\/\/ktbb.com\/post\/wp-content\/media\/2023\/01\/C-2-175x99.png","fifu_image_alt":"City approves economic development agreement for former Carlton Hotel revitalization","_links":{"self":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts\/1193900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1193900"}],"version-history":[{"count":4,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts\/1193900\/revisions"}],"predecessor-version":[{"id":1193913,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts\/1193900\/revisions\/1193913"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/media\/1193915"}],"wp:attachment":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1193900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1193900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1193900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}