In late 2015 the Ocala City Council unanimously approved to begin negotiating with Downtown Ocala, LLC to build and operate a downtown hotel with retail and residential components. The development will be built upon the site of the former Chamber of Commerce Building, which is the lot east of the downtown square.
Conceptually, the project would consist of two buildings. The first building would be six stories and house 90 hotel rooms, 10,000 square feet of conference room space and 7,000 square feet of retail and restaurant space. A two-story second building would include about 2,000 square feet of retail space and 8,000 square feet of residential space. The first phase of this project is tentatively scheduled to begin August 2017 and conclude in March 2019.