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On Tuesday, the Marion City Council and the McDowell County Board of Commissioners announced plans to work with a real estate development firm to bring a hotel to downtown Marion.

This planned 100-room Marriott hotel will be located at the site of the former Bank of America at 120 North Main St. The hotel could open by 2027, according to the leaders of the development firm Benchmade Ventures. 

The announcement about the hotel took place during Tuesday’s regular meeting of the Marion City Council at the Marion Community Building. The council held a public hearing on economic development incentives for the project.

City Planner Director Heather Cotton outlined the hotel plans.

“I think this is one of the most exciting projects in my tenure with the city of Marion,� she said.

Cotton said the hotel “will bring a lot of commerce� to the downtown.

Chuck Abernathy, the executive director of the McDowell Economic Development Association, said the project was in the making for a little over a year. 

“We have been looking at parcels of property all over Marion, and this seems to be the piece that doesn’t have a close second," Abernathy said.

Benchmade Ventures, the developer, is led by Mike Kren and David Bennett. 

The firm has developed similar projects, including the Fairfield Inn & Suites in downtown Â鶹´«Ã½ and the Townplace Suites in Banner Elk. 

Under the proposed economic incentive agreement approved by the city council, Benchmade Ventures will purchase the 1.61-acre Bank of America site at 120 N. Main St. for $998,000, about the tax value of the property owned by 120 N. Main St. LLC.

The city of Marion and McDowell County will pay Benchmade for cost of the property, according to the agreement. The city and the county will split the cost of the property paid to Benchmade Ventures. The city of Marion and McDowell County will each pay $499,000 to the company in three payments over three years, according to McDowell County Manager Ashley Wooten.

Under the agreement Benchmade Ventures will build a 44,000-square-foot hotel and that will employ 10 full-time workers. Kren and Bennett said the hotel will have 100 rooms and 100 parking spaces on the back side of the property going to North Garden Street. The planned hotel will be a Marriott and there will be some commercial space as well. The groundbreaking should happen next year with a planned opening in late 2027, according to Kren and Bennett.

“There’s been studies that show for every dollar that a guest or visitor spends on a hotel room they spend two dollars in the community,� Kren said. “So we’re hopeful that this will be a catalyst to cause more businesses to want to come to downtown, to help the support the existing businesses downtown.�

During the public hearing, the council heard from several people who expressed support for the project.

“To qualify myself, I have been a commercial real estate appraiser for 40 years,� Frank Dean said to the council. "I can tell you unequivocally there is no downside to this project and what it will do for downtown. It is the most exciting thing that has happened since I have been here for 45-plus years. I want to complement you. I am all in.�

David Wooten with the McDowell Economic Development Association said he supports the plan and his bank, First Bank, will be a neighbor for the planned hotel.

Shannon Odom with the McDowell Tourism Development Authority spoke in favor of the planned hotel.

McDowell County Commissioner Lynn Greene said it would be wonderful for tourists to stay in the downtown.

“On behalf of the Board of commissioners, we are with you,� he said.

After hearing the comments, the council approved the incentive agreement.

Council Member Chet Effler, who works for the state, said he’s wanted to host conferences of other state officials in the past and this planned hotel would be the right place.