Hotel to be built in the city of Amsterdam
Microtel breaks ground in city
AMSTERDAM — Montgomery County continues to grow as a destination for people and investment as Valley View Hospitality broke ground last week on the construction of its new Microtel by Wyndham Hotels.
The hotel, which will be located along Route 5S in the city, is expected to have 67 rooms.
According to a news release, the project received economic assistance from both the Montgomery County Industrial Development Agency and the state’s Regional Economic Development Council, along with a Montgomery County Revolving Loan Fund, which is administered by the Montgomery County Business Development Center.
“Adding hospitality options in Amsterdam and in Montgomery County helps our efforts to attract new employers, investment and tourists,” Montgomery County Executive Matt Ossenfort. “Hotel construction is a strong sign that our economic development strategy is working and this project will only increase the attractiveness of our area, as we work to build a diverse tax base for the benefit [of] all our residents.”
According to the release, Valley View Hospitality is receiving a $1.2 million grant through the state’s REDC awards and has entered into a 10-year agreement Payment In Lieu of Taxes agreement through the county IDA, which will be allocated proportionally to Montgomery County, the city of Amsterdam and the Greater Amsterdam School District. The company also received a $500,000 loan through the county IDA.
“Valley View Hospitality has demonstrated a long-standing commitment to our area, and we’re proud to have played a key role in making this new endeavor a reality,” said Montgomery County IDA and Business Development CEO Ken Rose. “Quality employers need hospitality options conveniently located to their businesses. Having an additional hotel in our area will help us continue to attract investment and demonstrate across the region that Montgomery County is working and a place of real opportunity.”
As a condition for the state grant, Valley View Hospitality, which also operates the Knights Inn, has agreed to create 13 new, full-time positions over the next three years, the release states.