Press-Republican

Business

August 20, 2013

Legislators back Hotel Saranac plan

SARANAC LAKE — Franklin County has thrown its support behind a New Hampshire man’s plans to seek state funding to restore the Hotel Saranac to its former glory.

This was the second time in two weeks that legislators endorsed a project that is expected to increase available lodging and draw more tourism dollars to the Adirondacks.



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Fred B. Roedel II, a partner in Roedel Companies and president of its hotel-construction arm, ROK Builders, of Wilton, N.H., announced earlier this month that he plans to buy the Hotel Saranac and create 86 rooms, renovate the ballroom and offer retail space on the first floor.

The site had been owned by Paul Smith’s College and operated by students in its hotel and restaurant management program until 2007, when the college sold the property to its current owner, Sewa Arora.

‘HISTORICAL ASSET’

Roedel Companies plans to invest a portion of the estimated $13 million in renovation and restoration costs, but it will also file a consolidated-funding application through the North Country Regional Economic Development Council for grant funds.

Legislator Timothy Burpoe (D-Saranac Lake) said the company may have missed the application deadline for the next round of funding, to be announced this fall, but if not, Roedel could include Franklin County’s endorsement in the packet.   

At a recent session, in adopting a resolution in support of the company’s application, legislators said Roedel’s vision “will rehabilitate and preserve a regionally significant historical asset” and create new jobs.

It would also “advance tourism-promotion efforts and draw more visitors and their dollars to our region on an average of $200 per night per person,” the resolution states. 

“It will not only redevelop Saranac Lake and Franklin County as a tourist destination but it will create more jobs.

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