The City of Olean plans to use the funds to assist HK Olean
Hotel LLC in the development of the new 90-room Hampton Inn and Suites at 1404
Buffalo Street. The hotel will be built
on a 2.4 acre site that had been formerly owned by ExxonMobil and was
designated as part of the New York State Brownfield Cleanup Program. This project will be the first project on the
Northwest Quadrant Brownfield Opportunity Area and will include a four story
building comprised of a mix of standard rooms and suites, a breakfast room, a
fitness center, an indoor pool and a meeting and event space that will
accommodate up to 60 people.
“I am so pleased that the City received this funding from
New York State. This site has been
vacant and abandoned for as long as I can remember and hopefully the hotel will
be first of many developments in this prime real estate area,” said Mayor Aiello. “The property is adjacent to an exit on Route
86; much of Olean’s industrial base is near-by, and St. Bonaventure is a
straight two miles away.”
“I also want to welcome HK Olean Hotel, LLC to Olean and
thank the company for making this investment in our community; the hotel will
create many jobs and will help boost our tourism economy,” Mayor Aiello added.
“Finally, I would like to thank the staff in Olean’s
Community Development Office who applied for and will administer the
grant. They worked very hard to secure
this funding and have been the catalyst in the transformation of the Buffalo
Street brownfield into an area for investment.
The process has taken many years and the staff has never given up hope
that the brownfields had the potential for economic development.” Mayor Aiello said.
