October Development and the Northside Leadership Conference officially closed on a $17.5 million deal to renovate Workingmen’s Square Hotel space in East Deutschtown.
By: Neil Strebig
The Northside Leadership Conference (NSLC) and October Development will officially be moving forward with a proposed plan to build a Comfort Inn and Suites on E. Ohio Street, according to a press release issued early today.
The new hotel will replace the vacant Workingmen’s Square Hotel in East Deutschtown and will be operated by The Priory Hospitality Group. The adjacent Workingmen’s Bank Building, formerly known as the Arc House, will be the site of a new restaurant and banquet facility also operated by The Priory Hospitality Group. Financing for the restaurant project is still being finalized.
According to October Development owner John Elash, the hotel project will take 51 weeks to complete and will be administered by Rycon Construction. Residents should expect a December 2018 completion date at the earliest.
“It’s only the start of what we’re doing for East Ohio and the Northside,” Elash said in a phone interview. “It’s going to change everything.”
Elash believes the site will be a “lynchpin” for progress in regards to the rehabilitation of the East Ohio Business District and will act as an “entrance” to the Northside due to the site’s proximity to the Route 28 and Interstate 279 exits.
The 96-room hotel will accommodate guests on six floors, including a rooftop lounge and garden area.
“The transformation of this site reflects what is happening throughout the Northside,” NSLC Executive Director Mark Fatla in a press release.
The $17.5 million project was funded by a host of contributing parties, including Dollar Bank, Slovak Savings Bank, Community Savings Bank, Riverview Bank, Standard Bank, Bridgeway Capital and The Northside Community Development Fund, who provided the initial pre-development financing, along with Northwest Savings.