A rendering of what the exterior of the new downtown Norwich hotel could look like, created by newly identified project developers and operators Mike and Dan O'Reilly of Principle Design Engineering. (Submitted photo)

NORWICH — Development Chenango Corporation (DCC), the Chenango County Economic Development Agency within Commerce Chenango, Inc., is pleased to announce the next phase of the ‘Hotel Norwich’ initiative.

Nearly a year ago the announcement was made that DCC was in the process of purchasing 14-16 South Broad Street in Norwich, a nearly vacant building, for the purpose of developing a boutique hotel.

“When I began my tenure at Commerce Chenango in August of 2019, this was the number one request among the corporations and business owners that I met with,” noted Commerce Chenango President and CEO Kerri Green. “It wasn’t long before I met Mike and Dan O’Reilly and we began looking for a way to match their plans from 2016 to what might be available in the community. The former SUNY Morrisville Building, located in the center of downtown Norwich, was available and after careful review, had the structure necessary for this project.”

DCC closed on the purchase in August 2020 and since then, Green and her staff at Commerce Chenango have been working to find a way to make this project come to fruition.

“We considered a capital campaign to raise money for building improvements, which we hoped would attract a serious developer. We spoke with area businesses, consulted with our regional partners and state associations to identify possible funding streams,” said Green. “When we found out that our DRI application had been identified as a finalist for the $10 million award [in 2021], we switched gears.”

Although the final DRI awards have yet to be awarded, the Hotel Norwich was an anchor project within the original application and is in the running for a possible allocation.

This past April, DCC sent out a formal “Request for Qualifications” (RFQ), seeking to formally identify a developer and operator for the hotel project, from development to construction and ultimately operations. After reviewing submitted proposals, the DCC Board of Directors awarded the project to Mike and Dan O’Reilly, owners of Principle Design Engineering.

“The approval from DCC allows us to enter into an agreement with Principle Design Engineering to develop and ultimately operate the hotel,” explained Green. “We will lease them the building for up to fifteen years, at the end of which they will own the property outright. The agreement gives the O’Reilly’s one year to secure the funding necessary to get the project off the ground.”

“The Hotel Norwich project has been an integral part of our professional plans since 2016,” noted Michael O’Reilly, co-owner of Principle Design Engineering. “To us it’s a necessary component for Norwich, required to not only support the resilient business and job market, but to also position our community for future success.

"Without this project we collectively risk losing what’s made us so enduring. We passionately believe that a uniquely crafted boutique hotel with a distinct personality can not only draw outside visitors, but would also extensively support our current festivals, events, recreation, and business community. This agreement with DCC strengthens this initiative and provides viability.”

“This project is a significant investment into the City of Norwich and the ripple effect of this will be felt throughout the County,” remarked Green. “The DCC Board of Directors is proud to have helped bring this much needed asset to the community. As the county Economic Development Agency, our job is to identify needs and find ways to fill them. The Hotel Norwich project is a perfect example of what can happen when you work together with your local community and business owners. I’d like to thank the City of Norwich, our county legislators and elected officials for their support of this project.”

Organized in 1959, Commerce Chenango is a not-for-profit, community-based organization dedicated to enhancing the economic growth of Chenango County and the surrounding area. Visit www.commercechenango.com for more information on Commerce Chenango services and programs.

-Information provided by Commerce Chenango