A boutique hotel is being developed at a historic property in Buchanan.
The Buchanan City Commission this week approved an obsolete property rehabilitation exemption for the site at 206 Days Avenue, the former location of a livery stable. Developer 206 Days Avenue Holdings LLC is planning to invest $3.5 million turning the building into a hotel with ten units, a bar, and a venue for events like weddings.
Speaking to city commissioners, Buchanan Community Development Director Richard Murphy said this is a special project.
“It really does not get any more exciting than it gets in the world of redevelopment,” Murphy said. “When old historic liveries become new boutique hotels and the job creation and the construction jobs and the economic benefits and the leveraging of the history, we only need to look down the road at a project called Journeyman to know what these projects can do for the community.”
Murphy said the developer is seeking a $1.2 million state grant to help pay for the building’s rehab.
Commissioner Dan Vigansky questioned the assessed value of the property, but a motion from him to seek an appraisal found no support. Vigansky later voted with the rest of the commission to approve the tax break.
The 12-year obsolete property rehabilitation exemption means the taxable value of the property will be frozen during that time while improvements are made.
The developers hope to be finished and have the hotel open in the spring of next year. The project has the support of the Southwest Michigan Regional Chamber and Cornerstone Alliance.
