HAGERSTOWN, Md. (WDVM) — The City of Hagerstown is stepping up to help the Hamilton Hotel project with stabilization. This project will create 37 new residential units downtown and seven commercial units. It was originally estimated at more than $2.5 million.
“The city is looking at a package that includes both the grant and the loan to grant that would total $716,106. The amount is based on construction estimates to stabilize the building, as a result of a partial building collapse that unfortunately occurred,” said Jill Thompson, Director of Community and Economic Development for the City of Hagerstown.
The Hamilton Hotel building is a historic hotel, which will be converted into new residential units for downtown living, and the building is 55,000 square feet. The project was underway and experienced a partial collapse of a portion of the building. The city will support the development by offering a brand, as well as a loan to grant to help stabilize the building and to help the project move forward.
“The city feels the need to support this project so that it moves forward. The original project was estimated at 2.5 million. As a result of the partial building collapse, the building owner could face expenses of two to 2.5 million additional, to stabilize the building,” said Thompson.