Caldwell city staff are in talks with a developer about constructing a new 100-room, nationally-branded hotel, economic development director Steven Jenkins told the city council Oct. 21, urging them to consider a letter of intent.
The Idaho Press reports that currently, Caldwell has two branded hotels and two motels, with a total of 196 rooms — the smallest number among Idaho’s six largest cities.
The 4.2-acre city property on which the new hotel would be constructed, 104 N 21st Ave., is used as a parking lot during events like the Caldwell Night Rodeo and Canyon County Fair.
The terms of the letter of intent, involve a $5,000-per-year, 50-year lease, with construction hopefully to start in spring 2025.
The developer would also pay taxes on the project, with the potential for nearly $128,000 in revenue annually.
Currently, the land is tax-exempt.
