Tonight, developers of the old CNH property in East Moline will announce plans to build a hotel, homes and stores as part of the project. The owner of the site, River Eagle Investments, is working with a Chicago-based company, Beitler Real Estate Services, which is calling it "Fountainhead Quad Cities."
East Moline Mayor, John Thodos, says the master plan includes a 220 room Hyatt Place and Hyatt House hotel. And Beitler has hired architect Helmut Jahn to design it. The mayor thinks it's fantastic news because currently the city doesn't have a hotel.
Thodos also hopes the Fountainhead project will help attract more new housing. The 135 acres will feature a park with a bandshell, apartments, a recreational center, gas station and retail.
The East Moline City Council created a new tax increment financing district for the former factory site, but Thodos says that's the only city incentive. It's not responsible for building or paying for any of the infrastructure.
More information is available at Fountainhead Quad Cities.
