More state money keeps Lake Lanier project on track
GAINESVILLE, Ga. (AP) — A government agency planning a $155 million new hotel and conference center at Lake Lanier says another $21 million boost from the state is keeping the project on track.
The Times of Gainesville reports the Lake Lanier Islands Development Authority acknowledged the state financing in its meeting Friday, voting to begin taking steps to tap into that money through the Georgia Department of Natural Resources.
The General Assembly approved borrowing the money beginning July 1, as part of the overall state budget awaiting Gov. Brian Kemp’s signature.
The new borrowing brings the state’s contribution to more than $40 million.
The conference center and hotel was announced in August to be built on a site once occupied by PineIsle, a 254-room hotel that was torn down in 2008. The property has remained vacant since then.
The new 300-room hotel on the site would be privately financed by Islands Management Co., which leases state property at the lake north of Atlanta. The state is paying for a 75,000 square-foot (7,000 square-meter) conference center.
The new complex may open in late 2023 or early 2024, officials said Friday.