26-Room River Bend Hotel to Open in Ashtabula, Ohio
ASHTABULA, OHIO — The Ashtabula City Council has approved a 10-year, 75 percent tax abatement for the development of the city’s first hotel in almost 99 years. The 25,000-square-foot, 26-room River Bend Hotel will be located on a vacant strip of land at the corner of West 6th Street and Goodwill Drive. Erie Bank is providing a $3.1 million loan. The $5 million project will be further financed by public funds from the city and county as well as through funds from the Ashtabula County 503 Corp., whose mission is to promote job creation and economic development in the county. Ashtabula is known for its wineries, lake recreation and covered bridges. The property will include a first-floor wine bar, 500-square-foot conference room, fitness center and lobby with fireplace. Former resident Todd Canter proposed the hotel. Canter formerly served as Asia Pacific CEO for LaSalle Investment Management Securities. Local businesses such as Laurello Vineyards, Delta Railroad, Iten Industries and JCI Contractors are teaming with Canter on the hotel development. Architectural design firm Stephen Berry has been selected for the project. A third-party hotel management firm, yet to be selected, will manage the property. A timeline for completion was not disclosed.