On November 28, 2012, the GTCBRA approved loan documents that will utilize $620,000 of the U.S. EPA Revolving Loan Funds for the Hotel Indigo Project at the southeast corner of Grandview Parkway and Hall Street in Traverse City's "Warehouse District" within Downtown. Demolition, environmental response activities, and construction should begin in the coming months. The U.S. EPA funds will be used for a portion of the environmental response activities, which exceed $3 million.
Overall the Hotel Indigo project represents a $16 million investment in Downtown Traverse City, which will redevelop environmentally contaminated and blighted properties across from Grand Traverse Bay. The project will feature 105 hotel rooms, a restaurant, conference space, and underground parking. See the Traverse City Place page for additional information.