Holyoke Hotel Restaurant Center: Ingleside Square Secures Additional Tenants Text Size
Additional tenants have been secured at the former Holyoke Hotel site, owned by 66 Holyoke LLC, after an announcement earlier this year to redevelop the property into a destination commercial plaza. The newly announced tenants include Chipotle Mexican Grill, the Vitamin Shoppe, and Fairfield Inn & Suites by Marriott. These will join the previously announced Applebee’s restaurant. Commercial Development Services Group of Stafford, CT has already begun construction on-site, and plans are underway for an additional hotel and retail tenants to complete the development in 2016.
In an effort to help provide a more “shovel-ready” site that could be marketed to tenants, the City’s Planning Board and staff worked with the property owner to develop and approve a master plan for the project. The plan, first approved in November of 2013 and amended in January of 2015, addressed all major site construction and permitting issues which would reduce time and mitigate any potential issues for targeted tenants.
“These tenants will be a great addition to the City of Holyoke and will complement the existing commercial and retail sites in the Ingleside commercial district. I welcome them to the City and thank the site owners and their team at Shield Hotels for their investment and diligence to make this happen.” said Mayor Alex Morse. “I also want to thank staff from across departments, including Planning, Building, Public Works, Water and Conservation, for working collectively to bring the project from design to construction.”
The site redevelopment will also include an additional retail tenant, a third restaurant tenant and a second hotel, which are yet to be announced. Once completed, the entire site redevelopment will result in the creation of 100 to 150 full-time equivalent job openings, and the creation of approximately 150 to 175 construction jobs.
“In such a competitive commercial environment, site readiness is key to be able to quickly attract desirable tenants. This was the first time the City of Holyoke was able to pre-approve a site’s master plan and I am pleased to see that it has worked as intended.” said Marcos Marrero, Director of Planning and Economic Development for the City.
The project has included the demolition of approximately half the existing hotel, while rehabilitating the remaining portion for the future Fairfield Inn. The second hotel will be new construction. The project will also increase tax revenue for the City of Holyoke. Currently, the City receives approximately $132,000 per year from this property. This amount is anticipated to increase to about $350,000 to $400,000 per year after all construction is completed.
Posted on October 16, 2015 by Mayor's Admin