A little more than three months after Mason City finalized a multi-million development agreement with Gatehouse Capital to put a hotel in the downtown district, and weeks after a possible chain was first identified, the brand name and the timeline have become much clearer.
At Tuesday night's regularly scheduled city council meeting, Gatehouse developer David Rachie, who has shepherded the project for the Dallas-based company, announced that the forthcoming hotel would be a Hyatt Place and that the construction timeline would be 18-20 months.
Rachie said that they hope to break ground on the project, which is a part of the long-running River City Renaissance, by late May or early June of 2020. According to him, that puts things on schedule and on budget for the time being.
The main hurdles at this point are of a more logistical nature.
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Landscape architecture still needs to be finalized as do major design components.
As of now, 50% of those components are in place and Rachie said he hoped that they would hit 100% before the year is up. The number of rooms is set at 111 (which is up from the initial projection of 95) and the height has been finalized.
"There's a lot of problems when you have a project like this and everybody was able to clear them very very quickly," Rachie said.
When city council members questioned Rachie, they were mostly concerned with how the hotel's operations would be affected by the possible competition with the developing Clear Lake hotel.
"I don't think it will impact the operations of our hotel," Rachie said. He added that the Clear Lake project is replacing an older product there and has a different focus than the Mason City hotel which will be driven by its conference center.
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Reach Reporter Jared McNett at 641-421-0527. Follow him on Twitter and Instagram at @TwoHeadedBoy98.