New redevelopment proposal for Springfield Wyndham

SPRINGFIELD, Ill. (WAND) — The Springfield Wyndham hotel is getting another chance after a failed redevelopment plan.

Tower Capitol Group is requesting more than $18 million in TIF funds to breathe new life into the hotel. The company would build 250 Delta Marriott hotel rooms and 200 luxury apartments along with a Sky Deck Observation area with a food court.

"Whatever the project generates in taxes- property taxes, hotel/motel taxes, possibly sales tax- will cover the gap of financing. So if the hotel doesn't perform, or the project doesn't perform, they won't fulfill what they're trying to get out of it," Mayor Jim Langfelder explained.

The mayor said the deal would make the downtown area stronger.