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BMDD to engage in hotel feasibility study for the potential renovation of Historic Brownwood Hotel

The Brownwood Municipal Development District (BMDD) has received a proposal, at the BMDD’s request, from Randy McCaslin to conduct a feasibility study for a potential renovation project on the old Brownwood Hotel.   

A developer has expressed interest in the property and this study is a needed next step in the process of working with this developer.  Staff has talked to the owner of the property who has also requested this study and has given consent to move forward.    

With this study, the City/BMDD will own the information and can use it to recruit investors and developers who can renovate the old Brownwood Hotel.  This is similar to the retail market studies that the BMDD have obtained in the past to help recruit new businesses.  In addition, Mr. McCaslin is well known for helping to move large projects like this forward with this type of study.  He has completed studies in recent years for projects in Tyler, Irving, Dickinson, Conroe, Abilene, Baytown, Pearland, Kerrville, Pflugerville, and Cedar Park.  He has also been involved in several historic hotel renovation projects across the state on various levels including the Baker Hotel in Mineral Wells, which is to start construction this year.  Studies of this nature are common in initial stages of historic redevelopment projects.  

“A hotel feasibility study is the first step to explore the potential economic impact of the property at its highest and best use. We look forward to exploring the opportunity of the property and having a formalized proposal to present to the developer of interest,” said the assistant director of economic development, Marshal McIntosh. “The feasibility study will be utilized as a tool and guidance for potential future development.” 

McCaslin Hotel Consulting will complete a formal feasibility study in an effort to assist the City of Brownwood and Brownwood Municipal Development District in determining the feasibility of the revitalization of the property in Downtown Brownwood. 

“Timing is good for this type of study, as there are a large amount of state and federal tax credits, as well as energy efficiency programs to layer in financial analysis for the renovation. We feel the current environment is great timing to explore the options of the hotel revitalization project," said the director of economic development, Ray Tipton. 

BMDD Board of Directors approved the study on March 19th. City Council ratified the BMDD board action on March 26th. 

 

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