A local Hispanic organization is helping to increase the number of hotel corporate jobs Phoenix has to offer.

Prestamos CDFI, part of Chicanos Por La Causa, recently awarded a $12 million loan to RED Development for construction of the Hotel Palomar at CityScape in downtown Phoenix. That hotel will bring numerous jobs to the city.

Chicanos Por La Causa is a community development organization that helps low-income and minority residents, businesses, and communities. The organization hopes the hotel will provide more employment opportunities for its target demographic.

“Our community is a Latino community and a minority community in general,” Prestamos Director Rodie Hernandez told The Arizona Republic. “And those permanent jobs (at the hotel) are going to be filled by those individuals.”

The Palomar Hotel will feature 242 rooms and cost about $90 million to build. The project was first proposed in 2006 and has since received large amounts of community support

Earlier this year, RED Development received a $34.3 million loan from the Phoenix Community Development and Investment Corporation, a nonprofit organization operated by the city. The remaining cost of the project will be covered by a $45 million loan from Principal Life Insurance Company.

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