OCTOBER 27, 2021 – IMPERIAL
Imperial’s abandoned hotel will receive a massive redevelopment after the Imperial City Council voted 4-1 to partner with Gafcon commercial contractors during a special meeting Monday, Oct. 25. The 34-year-old, family-owned Gafcon company will fully fund the $22-million project to rehabilitate and open the Northpoint Hotel Development area located on the corner of Neckel Road and Highway 86. As part of the arrangement, both parties have entered into a Transient Occupancy Tax (TOT) sharing agreement that will see Gafcon receive $5.2 million over a period of 20 years. That agreement mandates a hotel be established with a high caliber of standards that include it being operated by a full service, upscale, nationally-recognized brand with amenities.
These required amenities include a restaurant, bar, meeting rooms, a fitness center, a marketplace, and an indoor pool. A study determined the project will generate $4 million in sales tax revenue and create 600 jobs at the start of construction, with 275 of those jobs being permanent. Senior Vice President and General Counsel of Gafcon, Paul Najar, said he’s going to be a part owner of the new hotel and that they expect to finish construction in January 2023. “We know that doing something and doing it fast is an incredible task … We are going to get it done fast and we are going to get it done right,” said Najar. Read More