NACOGDOCHES, TX (KTRE) - A significant step in moving the Hotel Fredonia purchase and major renovation along in Nacogdoches has been made.
Tuesday afternoon, the Nacogdoches City Council approved the legal agreement between the City of Nacogdoches and the man who wants to buy the hotel. The next step will be the actual purchase of the now-closed hotel.
Hotel Fredonia is showing signs of hosting plumbers, electricians, roofers and other contractors over the last seven months. The dissection ordered up by potential buyer, Nacogdoches restaurant owner Richard DeWitt for estimates of hard core renovations.
City Attorney Rob Atherton didn't climb thru the attics, but he is close by with the calculator.
"They have agreed to invest at least $9-million into the project, assuming the purchase price is around $2 million," Atherton said.
The expenses are watched because the city negotiated an agreement to allow the hotel to keep the hotel motel tax it specifically generates.
"The Fredonia only gets to eat what it kills," Atherton said. It only gets to receive money that it generates. They hope it will be over $150,000 a year for a 10-year period."
The Hotel Fredonia vision is a new look, but it's also a feel of the 50s to reflect its beginning in 1955.
The very traditional lobby and front entrance will be replaced with the sleek, straight lines of 60 years ago. All 110 rooms will be redesigned. An elegant steak house and a Texas food cafe will be served by a new kitchen. Two new pools will be built.
Unwanted items from toilet paper to room furniture and kitchen ware will be go away. The clock has ticked long enough. Items will be sold at auction and with city council approval the renovations will begin.
"I think they're probably going to purchase it September 15, and then they have about a year and a half to complete the construction," Atherton said.
On Tuesday, the move was in the hands of city council and attorneys. The city manager and the potential buyer were not present, but their work is far from over.