Capitol Plaza

The future of the Capitol Plaza building was uncertain following the 1992 Montpelier flood. This largest of Montpelier's commercial properties sat vacant, suffering from deferred maintenance, flood damage, and bankruptcy. This "slums and blight" project utilized VCDP funds for renovations.

Benefits
  • The hotel employs approximately 100 full and part-time people, most of these positions are available to L/M income persons
  • 47 hotel rooms
  • 57,000 square feet of accessible office space
  • 14,000 square feet of retail space
Funding
  • Bank: $710,000
  • City Loan: $50,000
  • Owner's Funds: $240,000
  • SBA Loan: $750,000
  • VCDP: $264,000
  • VEDA Loan: $400,000
  • Total: $2,414,000
Capital Plaza After Renovation