Developer at 54th and Broadway ‘making great progress,’ says hotel group has shown interest

QUINCY — An Omaha, Neb.-based developer’s plans for four restaurants and a convenience store on the northeast corner of 54^th and Broadway might change slightly.

Quincy Mayor Mike Troup said Jim Otis contacted the city’s planning and development department a week ago to say a hotel developer has shown interest in leasing on the property. 

“(Otis) wanted to know if that would create a problem with the city,” Troup said after Monday’s Quincy City Council meeting. “Well, I’ve talked to Chuck (Bevelheimer, director of planning and development) and Jason (Parrott, assistant planning director) about it, and no, it’s not a problem. (Otis is) continuing the discussions (to find potential stores). The hotel could be at one of those four restaurant sites within his development.”

Otis said he’s “making great progress” on the development.

“We were approached by a hotel group, and it’s really no more than that. Just interest,” he said. “It’s very early on. We’ve traded some site plans (with the hotel developer), and they’ve sent it off to their architect for review. We were addressing comments, but we haven’t really even started to negotiate a price or anything. There’s really nothing beyond that.

“We think it’s a great hotel site, and we hope we can make a deal, but we’re far from knowing how it’s going to turn out.”

The Quincy City Council voted on July 15 to create a $1 million tax incentive to support Otis’ effort. The resolution created the 54th Street Business Development District and will impose an additional 1 percent sales tax to any business created in the zone that will reimburse Otis up to $1 million. City estimates call for the fund to generate approximately $175,000 annually.

Troup said the possibility of replacing a restaurant with a hotel would not affect the creation of the business development district.

“We’re still capped at $1 million to reimburse (Otis), and I think all of that can still work whether it’s a restaurant or a hotel,” Troup said.

Otis says he won’t close on the purchase of the 7.93-acre property until spring 2025. Adams County tax records show the property is owned by the Edgar W. Campbell Trust of Greenville. Campbell, who lived on the property at 504 N. 54^th, died in 2010 at age 86. He was a bread route salesman, retiring from Purity Baking Co. in 1986.

Otis isn’t ready to give any hints as to which businesses have shown interest.

“We’re still working on some design issues and going out for pricing,” he said. “We’re just working through kind of the nuts and bolts of how you put together a development like building permits and planning and zoning. We just have to work through those items, but it’s all covered in the agreement. I think things will start taking shape here pretty quickly.

“The reason I’m being a little coy on everything is every one of these retailers, whether it’s a hotel or a restaurant or whatever, they like to handle their own announcements. So it would be completely inappropriate for me to say anything that would interfere with that.”

Pace Properties from St. Louis is handling the marketing of the property, officially listed with an address of 504 N. 54^th.

Otis said he believes the hotel showing interest would be “a nice fit.”

“This is going to be a lot of fun,” he said. “I think everybody will be very pleased to see that property developed and have some fun restaurants, a little variety. A hotel, well, I hope it works out. We’ll see. It kind of helps round out the development in a fun way.”