York development authority purchases Yorktowne Hotel

It’s official.

The York County Industrial Development Authority now owns the Yorktowne Hotel. The authority completed its purchase of the venerable downtown York building on Dec. 18,  Jack Kay, the authority’s chairman, said Tuesday. The purchase price was $1.8 million.

Here’s some other details from the authority’s news conference and board meeting at the Yorktowne Hotel:

Whose going to manage the Yorktowne? 

The authority signed a five-year management contract with HHM, a major hotel operator with offices in Harrisburg, Philadelphia and New York. Formerly known as Hersha Hospitality Management, HHM operates 115 hotels around the country. It managed the Yorktowne for its previous owner, an entity of Greenwich, Connecticut-based Starwood Property Trust.

What kind of renovations does the IDA plan to make to the Yorktowne? 

Kay has said previously that they plan to renovate guest rooms, upgrade the hotel’s mechanical systems and possibly add a rooftop bar. A rooftop bar is still something the IDA wants to do, Kay said Tuesday. The extent of the renovations depends on how much the authority can raise for the project.

How much does the IDA hope to raise to renovate the hotel? 

$20 million

Where would the money come from? 

The IDA has applied for $10 million state grant under the Redevelopment Assistance Capital Program, or RACP. If the authority got the grant, it would have to come up with a $10 million match. That could come from local charitable foundations, a bank loan and the authority’s own funds, Kay said.

What will the renovated hotel look like? 

Kay said Tuesday the hotel will be part of a “mixed use” development. He’s said previously that could include a smaller Yorktowne with about 100 rooms. Other parts of the hotel could be transformed for other uses including  offices or apartments. Either way, the hotel will remain full-service with a restaurant, ballroom and public meeting spaces. “York needs a first-class hotel,” Kay said.

What’s different at the hotel now?

Windows on the East Market Street and Duke Street sides of the building now feature an art installation depicting downtown York scenes. The art was installed by The Parliament Arts Organization, which is based in Royal Square.

This story comes to us through a partnership with the York Daily Record.