PERRYSBURG, Ohio — The former Holiday Inn French Quarter hotel in Perrysburg Township is in new hands after it was purchased by River Rock Property Group, LLC on Friday.
The building, which ceased operations just over a year ago, will reportedly be demolished and redeveloped as a multi-phase, mixed-use commercial center called "French Quarter Square."
Demolition is expected to begin in a few weeks with new construction to follow in late summer 2020 and the first businesses opening to the public in spring or summer 2021.
The property was sold by Bennett Enterprises, which operated the Holiday Inn French Quarter for 52 years. Rob Armstrong, CEO of Bennett Enterprises, said he's satisfied with the sale.
"We are thrilled that this property has been acquired by a quality developer. We are excited about being neighbors to a development that will be a jewel not only for Perrysburg Township, but for all of northwest Ohio," Armstrong said.
River Rock representatives said its the company's policy not to publicly divulge which businesses will be opening in French Quarter Square. However, they did say that, while plans are not finalized, the types of businesses likely to locate in French Quarter Square include retail stores, restaurants, hotels, medical facilities and offices.
River Rock leaders said they expect to have a mix of national and regional chains along with local businesses.
“Despite the economic uncertainty created by the COVID-19 pandemic, the interest we have received from businesses has been tremendous. Right now, we have enough interest to fill the available space in French Quarter Square at least twice over,” River Rock co-founder Mike Denman said.
“Proximity to the I-75 interchange, access to a traffic light, and the intense commercial activity along Perrysburg’s Route 20 corridor make French Quarter Square one of the best commercial sites in northwest Ohio. It feels very good that this project can provide an economic shot in the arm to the local community during these difficult times," River Rock's other co-founder Bill Bostleman said.
River Rock leaders expect the French Quarter Square development to create roughly 900 temporary construction jobs and up to 150 permanent jobs. Total capital investment in the project by River Rock and occupying businesses is expected to be $25-30 million.
