CLEAR LAKE, Iowa - The city council voted to approve a $4 million forgivable loan to WillowStream LLC, who are the developers of the proposed hotel and convention center that will be built in the Courtway Park Subdivision.
Courtway Park is located on Highway 122 and Interstate-35 in Clear Lake. For many years, the land was home to Andrews Prestressed Concrete. The north section will be home to a truck facility for Old Dominion Freight Lines.
People who spoke during the public hearing portion of the meeting expressed their excitement for the new development, saying it will spur more economic growth in the area. It was compared to the River City Renaissance project in nearby Mason City.
No details were announced about the type of hotel or restaurant that will be built on the site. That information is expected to be released in the final development details.