Today the city council in Mason City held a special meeting and approved a purchase and sale agreement with ES2024 Mason City Hotel Associates, LLC.
City staff has been working over the last few months to identify a new developer after the default from the previous developer for a new hotel in downtown Mason City. It became clear to city staff that Kinseth Hospitality was the best match for the project.
Kinseth is committing to purchasing the city property for 50-thousand dollars and completing a hotel of a minimum of 80 units with a pool and the associated parking and landscaping improvements valued at over 15-million dollars. Kinseth is looking to start construction in the spring, with the hotel anticipated to be a 4-story extended stay hotel. It will connect with Music Man Square via the new skywalk, and will be constructed in the southeast area of the parking lot currently used for Southbridge Mall.
Today’s agreement sets out the process for the approval of the project and the subsequent development agreement.
