Bruce Thompson, the developer of The Cavalier Hotel project, is asking for more public money. This time, it’s to build a beachfront hotel on the oceanside of the property.
If approved, it would be the second time the Cavalier project has benefited from the Tourism Development Financing Program, also known as gap financing.
In 2014, The Cavalier got the green light to receive $18 million, or 12.4 percent of $145 million. That was the estimated eligible capital cost of the project, which includes the historic hotel on the hill that is being restored, and the Beach Resort, a 300-room Marriott hotel across Atlantic Avenue.
