The Cincinnati Ohio Center City Development Corp. (3CDC) has entered into negotiations with developer Portman Holdings to build a new, $482 million headquarters hotel for the region downtown in a parking lot just south of the Duke Energy Convention Center. 3CDC is leading the process of building a new hotel, as well as updating the convention center. The city and county will have to agree to the eventual financing package. Portman has developed comparable projects, including a 700-room Hyatt Regency in Salt Lake City and the Lane Field development San Diego. It also developed the Atlanta Hyatt in the 1960s and It has developed over 19,000 hotel rooms. The 800-room hotel, would include 60,000 to 80,000 square feet of flexible meeting space, 15,000 square feet of retail, a pool, outdoor amenity deck, plus junior and senior ballrooms. The hotel will take 32 months to build, and construction could begin as soon as the first or second quarter of 2024. Steve Leeper, is CEO of 3CDC.