A year after the Sawmill Inn and also its Cedars Restaurant close up door for an excellent in 2018, the developer purchasing the website officially closeup of the door on the sale of the property on Jan. 31.
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Rebound Hospitality, based in Northfield, Minn., is an organization specialized to preserving and enhancing unique properties the serve and connect communities. They run multiple hotels including historical boutique nature in Minnesota and Iowa. Fag signed a purchase agreement last March for the former Grand Rapids hotel/restaurant/event get in which stood as a regional landmark because that 45 years.
“With its residence office in Northfield, Minn., Rebound’s vision is to create a portfolio of historic boutique inns and also distinct nature in market-driven areas in bespeak to make an impact and difference,” explained Brett Reese, fag Hospitality controlling Principal and CEO.
This fall, Rebound released plans because that the site which include demolition that the initial building and also construction that a four-story hotel, 82-room under the flagship of best Western. The company has also been in negotiations through a Minnesota brewery or other food vendor to build a restaurant and small event facility within walking street of the hotel. Through the ideal ar and accessibility to Highway 169, cant plans come provide additional pads because that commercial and/or office buildings at the front of the building with the hotel and also restaurant elements behind. There would certainly be one entrance as opposed to the existing two and also the roadway would align with the entrance across the highway come Target and also SuperOne.
According to Reese, the closing revenue on Jan. 31 consists of both the nine acres of the Sawmill footprint as well as the 15 acres surrounding the site. He explained that there will certainly be increase to six lots ~ above the property.
“With our closing ~ above the purchase of the Sawmill site, us are very excited to it is in a part of cool Rapids and this historical Sawmill property, moving it forward through a far-reaching development and also bringing the residential property to a higher and ideal use,” comment Reese. “We want to lug on the legacy of the site and also legacy that the Jacobsons right into something special.”
Pleased to it is in in a position to keep the property component of the grand Rapids service community, Reese said, “This blighted site could have stood for a long time. Rebound undertakes challenging projects, together demonstrated v the website in Decorah, Iowa - a condemned hotel that came to be a Marriott Fairfield Inn & Suites and real estate development.”
Reese defined that cant is likewise currently working on the renovation of a former convent and nunnery in downtown St. Paul that had been converted right into offices however will now be renovated into a 71-room hotel named the Celeste St. Paul - Hotel & Bar scheduled to open in Sept. 2019.
“I believe the Sawmill project is economic development at that is best,” added Reese of taking a close up door business and blighted residential property that is under-utilized, going from one lot come potential 6 that will certainly be the home of many businesses, giving a range of numerous products and services to the neighborhood of cool Rapids.
Optimistic about the jobs that will certainly be created and also the potential revenue come the city, Reese stated projections display the existing annual property counting of $90,000 space expected to grow to around $300,000 when the advance is fully completed.
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“It has been a satisfied to work with the sellers - the Jacobsons, the City of grand Rapids, American Bank, phibìc Face and also the neighborhood community,” said Reese who explained that demolition of the 65,000 square foot Sawmill building will start in early on March through dirt and infrastructure job-related such together water, sewer and also road to take ar April with July and also construction that the hotel to begin in respectable or September 2019.