New hotel slated to open in spring
McCOOK, Neb. -- Construction of a new 54-room hotel with indoor swimming pool kicked off this week in McCook and is anticipated to be completed by next spring.
Representatives from BriMark Builders and Cobblestone Hotels coordinated a ground breaking ceremony at the development site Tuesday afternoon and shared their appreciation for local support. BriMark Builders president Jeremy Griesbach said the project wouldn't have happened without the use of Tax Increment Financing and thanked McCook economic development and city officials for their support.
Griesbach referenced slightly more than $625,000 in TIF approved by City Council in May as part of the $4.6 million redevelopment plan for the project.
The TIF funds are captured and redistributed from future property taxes paid on the location, in excess of what had been paid prior to development.
The redevelopment plan estimated the property to have an assessed value of $80,000 prior to construction and just shy of $4 million afterwards.
The three-story hotel will be located at the northeast corner of the intersection of U.S. Highway 83 and N Street and feature an indoor swimming pool and 50-person meeting space.
The McCook location is among 11 Cobblestone Hotels under construction in Nebraska, Kansas, Pennsylvania, Iowa and North Dakota, according to Griesbach. He said Cobblestone Hotels currently operates 60 hotels nationwide.
Cambridge, Nebraska, celebrated the opening of a new 31-room Cobblestone Hotel in June. Similar construction projects are underway in nearby Oberlin and Quinter, Kansas.