MANHATTAN — Football legend Emmitt Smith's plan to build a hotel in Harlem was given a boost Tuesday when New York City Officials awarded the project $19.8 million in tax-free financing, the Wall Street Journal reported.
Smith leads a group of investors who have proposed to build a 200-room luxury hotel at 125th street and Lenox Avenue. The total cost of the project is estimated to be around $80 million.
"This project would transform a long-vacant site in a vibrant commercial corridor into much-needed hotel and retail space, along with amenities for the community, creating hundreds of permanent and construction jobs," David Lombino, a spokesman for the city's Economic Development Corp, told the WSJ.
A hearing will be held in June, following a formal vote from the board. To receive the financing, construction must begin by year's end.
Smith made his money scoring touchdowns during 15 seasons as an NFL running back with the Dallas Cowboys and Arizona Cardinals. Smith scored an NFL-record 164 rushing touchdowns and led the Cowboys to three Super Bowl victories in the 1990s.
