St. Charles, Minnesota- The City of St Charles has taken another key step toward the development of a new hotel to anchor a new Hospitality Center project in the Chattanooga Industrial Park in St Charles. At the direction of the EDA, Cris Gastner, CEDA Sr. Vice President and St. Charles City Administrator Nick Koverman worked with Hospitality Consulting Group to complete an update of the community’s hotel feasibility study. This independently completed study will provide valuable information to the potential developers of the project.
Gastner and Koverman have been working very closely with Steve Hedberg and Jim Kelley from HK Hospitality Management, LLC on this project in 2017 when the City and HK signed a letter of understanding for the exciting development project. The preliminary information provided by the report has been viewed very favorably by the development team.
“The draft information in the report validates the developers’ financial performance,” Gastner stated. “The fact that an independent agency’s report has reinforced the group’s positive outlook on the site will help them secure the best financing partners for their project.”
HK Hospitality is working on a large-scale development project that would include a nationally branded hotel and conference center along with a restaurant and convenience store on a site in St. Charles’ Chattanooga Innovation Park on Interstate 90.
The feasibility study will be formally accepted by the St. Charles EDA and City Council later in January.
About St. Charles, MN Economic Development Authority (EDA)
The St. Charles EDA is a volunteer board of citizens that meets monthly. The EDA acts as an advisory board to the St. Charles City Council. The goals of the St. Charles EDA are to create job opportunities, grow the tax base, foster an entrepreneurial culture, and enhance the quality of life for residents.
About HK Hospitality Management, LLC
HK Hospitality Management, LLC. specializes in management, marketing, asset management and hotel ownership in the hospitality industry. HK’s management is designed to the uniqueness of each brand, understanding the best way to deliver service that exceeds guest’s expectations while practicing sound business principals to grow the business, along with marketing and communications that deliver results which are phenomenal… a true integration of advertising, public relations, and promotions with sales.
About Community and Economic Development Associates (CEDA)
CEDA was created in 1986 as a private, 501(c)(3) non-profit corporation then called the Southeastern Minnesota Development Corporation. In 2010, the agency became Community & Economic Development Associates (CEDA) as a result of increased interest and inquiries received from communities outside of the agency’s original service area of Southeast Minnesota. The name change reflects CEDA’s commitment to providing services to fit the needs of any rural community. CEDA provides onsite and/or project based economic and community development services to rural communities and counties in Minnesota, Wisconsin, and Iowa currently. Our team brings with it over 150 years of collective development experience. For additional information about CEDA and the services we provide, check out our website at www.cedausa.com.