Crowne Plaza slated to close doors on Feb. 11

The current owner and seller of the Crowne Plaza Five Seasons Hotel in downtown Cedar Rapids plans to close the hotel doors on Feb. 11, City Hall reported on Friday.

The closure will come as 350 1

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Avenue Holdings LLC, which assumed ownership after foreclosing on the hotel a year ago, prepares to finalize the sale of the 275-room facility to the city of Cedar Rapids. The city is paying $3.2 million for the property and is expected to take ownership of it in March.

Then the city plans to keep the hotel closed and renovate it as it renovates the U.S. Cellular Center arena attached to the hotel and builds a new convention center next to it.

The hotel renovation should be complete in September 2012.

The city expects the hotel renovation to cost between $20 million and $25 million.

Mayor Ron Corbett this week said private-sector firms have been contacting the city about managing and/or buying the hotel.

The city will sell bonds and pay them off from hotel revenue if it doesn't sell the hotel, the mayor said.