Champaign approves incentives to bring new Hilton hotel to downtown

CHAMPAIGN, Ill. (WAND) - A new hotel could be coming to Downtown Champaign.

Champaign City Council signed off on a package Tuesday night of incentives to bring a Hilton hotel to North Neil Street.

A rendering of the Graduate hotel shows a seven-story 144-room hotel with bars, restaurants and a coffee shop.

The $38-million project is expected to open by the beginning of 2028.

Developers would be eligible to receive up to $7 in "TIF" and hotel tax reimbursement and completion bonuses if the project stays on time.

Champaign is expected to net more than half a million dollars annually in revenue from the project.

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