The River City Company has sold a parking lot near the IMAX Theater for $1.5 million.
The lot at 301 Power Alley behind the Hilton Garden Inn and just south of the Lookouts park was sold to McKibbon Hospitality.
McKibbon earlier developed the Residence Inn that fronts Chestnut Street along with the Courtyard at 200 Chestnut Street.
Amy Donahue of River City said, "They essentially bought their parking lot. McKibbon is excited about our current ONE Riverfront planning efforts and does have intentions of developing the parcel in looking at the plan when it’s completed.
"However, there are no development details to share at this time."