Ground will be broken soon for a new 54-room hotel at Indian Lake, a Cobblestone Hotel, officials announced this week.
The site will be located on the southeast corner at the intersection of U.S. Route 33 and Lincoln Boulevard in Russells Point. The location provides a view of the Indian Lake and high visibility, as well as plenty of room for parking and future expansion if needed, officials noted.
A group of 17 investors, most with ties to Indian Lake, have committed to the $8 million project.
Financing is being provided by Richwood Bank along with PACE.
A study was previously performed by Core Distinction, a Wisconsin consulting firm specializing in the evaluation of potential demand for hotels, which concluded that the need is significant in this region. Currently, there are no hotels within 9 miles of Indian Lake.
The new Cobblestone Hotel will be managed by SHG. It will feature a mix of short-term and long-term stay suites, ADA compliant units, a swimming pool, conference room, breakfast room, exercise room, laundry and outdoor patio.
“We believe that the new hotel will be a great addition to lake amenities,” one of the investors said. “Visitors will have the option to spend a night, a weekend or as long as they like with some long stay units featuring a kitchen, living room and separate bedroom.
“Some folks have not been able to accommodate all of their families due to lack of room and this provides room for family members to visit without crowding a private residence. Visitors who come for fishing, boating, business or just to visit friends will have a comfortable, clean and attractive place to stay.”
The investors met at the Indian Lake Chamber of Commerce a number of times over many months with Chamber President Amber Fagan.
Also spearheading the initiative was Janice Tata, a company representative to share about the brand and its three divisions, Cobblestone, BriMark Builders, and SHG management.
Headquartered in Neenah, Wis., Cobblestone Hotels prides itself on filling the lodging needs of communities throughout the United States. Since January of 2008, the brand has expanded to over 162 hotels in 29 states.
For more than 10 years, Cobblestone Hotels has been known as one of the fastest-growing hotel brands in the country.