Plans are in the works for an $8 million, 84-room hotel in St. Albans, Vermont.
The St. Albans Messenger reports (http://bit.ly/1CjsM2p) the City council signed a purchase and sale agreement on Monday with PeakCM, a developer in Winooski. Negotiations are underway with American Resort Management for a Hampton Inn at the site.
St. Albans officials have discussed the possibility of a hotel for several years at a vacant site near a new parking garage.
The plan is for the city to invest $1 million in the project, part of $2.5 million it received for the sale of the Federal Street property on which the new state office building is located.
Information from: St. Albans Messenger, http://www.samessenger.com