Wilson approves redevelopment for downtown hotel
The historic Cherry Hotel on Nash Street in downtown Wilson is getting a $19.9 million facelift.
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“It would be hard to overstate the impact this hotel will have on our downtown turnaround,” said Wilson City Manager Grant Goings. We hope the community will take great pride in seeing this wonderful building transformed from the verge of demolition to a showpiece that honors our past and celebrates our bright future.”
“The ‘spill-over’ effect of having an average of 65 weekday and 125 weekend guests walking the streets of Historic Downtown Wilson cannot be measured but will have a direct impact on the surrounding retail redevelopment and the continued vitality of efforts going forward,” said Rosani Kowalik, a partner in the development firm.
The City of Wilson is offering a $1.5 million forgivable loan to the developer if all terms of the development agreement are met and the hotel remains in operation for 10 years.
Construction is expected to begin in mid-2020 with the hotel open by the end of 2021.
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