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WORCESTER – The Worcester Redevelopment Authority has announced an agreement with First Bristol Corporation to purchase 1.02 acres of land at Washington Square to construct a $22 million hotel.
The new hotel will be comprised of 110 rooms and employ a minimum of 40 staff members. The new hotel will be the second hotel owned at Washington Sq. by First Bristol Corp. The company also owns Homewood Suites at 1 Washington Square.
“First Bristol Corporation is extremely pleased to move forward with our due diligence process for a second Hilton hotel at Washington Square,” said James J. Karam, President & CEO of First Bristol Corporation. “We believe the location being directly across the street from Union Station and at the foot of Shrewsbury Street with an eclectic variety of restaurants and entertainment, as is the case with the Homewood Suites, is a great feature for our guests to enjoy within downtown Worcester.”
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First Bristol Corp. will purchase the land for $400,000, with $100k of the purchase price to act as a contribution to the Worcester Jobs Fund with the goal of making at least 50% of the permanent workforce local residents.
“The City is not only in the business of developing land but also in fostering meaningful relationships with developers,” said City Manager Edward M. Augustus, Jr. “That is evident today in the partnership with Jim Karam and First Bristol Corporation. Their investment in Worcester and in building a second hotel property in Washington Square will boost the city’s available room count, help attract more events and visitors and bring added vitality to the area,” he continued. “Thank you to the WRA and to Chief Development Officer, Michael Traynor, for their efforts in negotiating a great deal and building trust with the Karam family.”
The plans call for the development of a 6-story building, including one level of parking under part of the building. The full amenity package is forthcoming as design plans move forward, however, First Bristol Corporation envisions an All-Suites Hotel similar to that of the Hilton Homewood Suites.
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