As workers erected its steel skeleton, the Hyatt Place Fredericksburg at Eagle Village was already reeling in kudos. At its March conference, the Virginia Economic Development Association presented the University of Mary Washington and Fredericksburg with a Community Economic Development Award. The honor recognized the creative joint efforts of the University and Fredericksburg in securing city and state funding for the $15 million hotel project. City Council approved a $310,000 grant in 2011 for construction of the five-story, 93-room Hyatt. The UMW Foundation and Fredericksburg collaborated to secure a matching grant, the first awarded through the new Virginia Tourism Development Financing Program, which gives incentives to developers whose projects benefit business and tourism. Eagle Village, owned and operated by the UMW Foundation, is Fredericksburg’s first mixed-use development, housing student apartments, retail and office space, and a parking deck. It adjoins the … [Read more...]