Lucas County to Fund Hotel Maintenance and Renovations in Downtown Toledo
TOLEDO, Ohio (WTVG) – Lucas County has approved funding to support renovations and ongoing maintenance for two hotels located in downtown Toledo. The county has allocated up to $1.5 million for the effort, though not all commissioners are on board with the full amount.
The funding is tied to the county’s pre-pandemic investment in the former Park Inn complex, which has since been transformed into two hotels: the Hilton Garden Inn and Homewood Suites on Summit Street. These hotels are connected to the Glass City Center and were part of a broader downtown revitalization strategy that included investments by ProMedica and HCR Manorcare. However, ProMedica has since faced financial difficulties, and HCR Manorcare is no longer operating.
Lucas County Commissioner Pete Gerken emphasized that the funding is intended to protect the county’s financial stake in the project.
“Opening a hotel after COVID was a major challenge. The two major investors we had planned on disappeared,” Gerken said. “Given where we started and the setbacks we faced, the hotel is performing well and trending upward.”
The county initially partnered with developer Frank Kass and Continental Development on the project. On Tuesday, the Board of Commissioners voted to place up to $1.5 million into reserve funds for hotel upkeep. This includes two separate allocations: $500,000, which passed unanimously, and an additional $1 million, which received pushback.
Commissioner Anita Lopez voted against the $1 million portion, citing concerns about how the funds would be used.
“I’m not comfortable approving the $1 million at this point,” Lopez said. “I think we need to better define where those dollars would go if they’re needed.”
Commissioner Lisa Sobecki supported the investment, noting the importance of maintaining the hotels to avoid disruptions to scheduled events.
“The last thing we want is to cancel events due to maintenance issues. That would undermine everything we’re working toward in downtown Toledo,” Sobecki said.
A recent external analysis projected that the hotels would stabilize by 2028 or 2029, with an expected occupancy rate of 62%. County officials were also provided with a list of 29 events already booked at the Glass City Center through 2028.
The reserve funds are intended to cover essential repairs and maintenance to ensure those events can proceed without interruption.
“One major issue could cost $500,000 and potentially shut the hotel down for a week or two,” Gerken warned. “That’s not a risk we’re willing to take.”
While the full $1.5 million may not be used, officials say having the funds in reserve is a proactive step. Gerken also noted that developer Frank Kass has publicly committed to staying involved in the project, despite having the option to exit next year.
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Source: 13abc.com