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Group of Le Roy citizens make offer to purchase, revitalize Wiss Hotel

Press release:

A group of concerned Le Royans has made an offer to purchase the Wiss Hotel  from the village. The offer was made after Rick Hauser, of In. Site: Architecture LLP in Perry, who conducted a comprehensive investigation of the building on the group’s behalf.

Mr. Hauser concluded the building could be a viable business entity consisting of five beautiful residential apartments on the second and third floors, and several commercial establishments on the first floor. The cost of the project will be about $1 million. (While tearing down the dilapidated building and replacing it with a structure of equal value is estimated to cost several times that amount.)

The goal is, over the next few months, to form Le Roy, New York LLC, to purchase the building, and to find interested community members to join the LLC and to invest their work and/or money into the project, and to obtain loans from entities such as the GCEDA and from the Village of Le Roy itself.

The offer is to purchase the building for a dollar, and have the village lend the LLC the money it would cost the village to demolish the property. This plan will transform the Wiss from a major liability into a profitable investment for community investors, and an asset all Le Royans can enjoy with pride.

Tom Frew
Tom Frew's picture
Joined: Nov 25 2009

Interesting concept, I wonder what the Village Fathers will do to help get the Creekside finished 5-6 years later since they're playing with subsidizing private enterprise. I think this village ought to take a lesson from the Compost Facility and how prosperous that was when government ventured into private enterprise.

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