The Huntsville City Council approved a development agreement Thursday night with Southaven Associates to bring a Hyatt House hotel to downtown Huntsville, according to Kelly Schrimsher with the city.
The agreement says the hotel will have 145 rooms and a rooftop bar. It is set to be built on what is now a parking lot at Holmes Avenue and Jefferson Street near the federal courthouse.
A purchase agreement between the city and CityCentre III LLC was also approved Thursday night. The agreement says the City of Huntsville will sell land on Monroe Street, which includes the abandoned natatorium at the CityCentre development for $1 million. It's across from Embassy Suites.
The agreement gives the city the right to purchase the land back at the same price if the developer "has not commenced construction of a hotel or other commercial project reasonably approved by the seller (city) on the property within 24 months following the closing date."