Historic Properties Reuse Study of the Anderson ... - City of Wabasha

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Use Alternatives Although many of the people interviewed during the reuse study process expressed the hope that the Anderson House could continue to function in its original capacity, there was nearly unanimous agreement that a restaurant should be a component of any rehabilitation/reuse effort. Conversations with former owners, a restaurateur, and a historic hotel developer made it clear that a restaurant in the Anderson House would have to be a “destination restaurant,” offering a unique menu, exceptional food and outstanding service. Ideas that emerged during the interviews included: Restaurant/Hotel Restaurant/Hotel/Condos Restaurant/Condos Restaurant/Apartments All of above may have commercial uses on first level. Museum Veterans Housing Assisted Living Facility Apartments Gallery/Artists’ quarters Lodging for participants in Native American Eagle Handling Training (in conjunction with Eagle Center) Training facility owned and operated by Stout State University in Wisconsin to provide practical experience for students in its hotel/restaurant program Anderson House Reuse Study 18
Ownership/Operation Alternatives For all of its history the Anderson House has functioned as a small family owned business, with both the restaurant and hotel operated by a single owner. Alternative ownership models could help to reduce or diversify the risk of rebuilding the business, and open doors to various types of incentive programs. Private Redevelopment by a Single Owner The Anderson House could be sold to another single owner/operator. Several parties have expressed an interest in acquiring the property, including some with a demonstrated record of success with the operation of similar businesses. Because the Anderson House is listed on the National Register of Historic Places, a private developer would be eligible for a Federal Rehabilitation Tax Credit and the newly established Minnesota Historic Structure Rehabilitation Tax Credit. Both programs provide a twenty percent tax credit on the costs of a certified rehabilitation. A private developer could also be eligible for Tax Increment Financing (TIF), the New Market Tax Credit, the New Market Tax Credit, and for grants offered by the federal Economic Development Administration, or local property tax abatement. These incentives could make redevelopment of the property more attainable. The city has provided TIF funding to help with improvements on the Anderson House in the past, and the TIF obligation were forgiven in order to provide an additional stimulus for the business. This action was somewhat controversial and has resulted in litigation. Redevelopment by Multiple Owners (Condominiums) The property could be redeveloped as a condominium, with individual owners helping to finance various components of the rehabilitation. For example, one owner could rehabilitate and operate the restaurant on the first floor, while other owners might rehabilitate the upper levels as individual housing units. A condominium redevelopment could be accomplished most efficiently by one initial developer, who would incur the risk having to sell the units in the building. Many of the incentives available for a single private developer could be applied to a condominium redevelopment, depending on the eventual uses of individual units. Public Ownership/Private Operation The property could be acquired and redeveloped by a public entity such as the Wabasha Port Authority. The hotel and restaurant operations could be leased to a concessionaire, with the proceeds from the lease helping to offset redevelopment costs. Public redevelopment would accomplish the goal of reestablishing an institution that is widely perceived to be an important community asset As a publicly owned historic property, the Anderson House would be eligible for a variety of grant programs available only to units of government, these include Small Anderson House Reuse Study 19
Page 1 and 2: A Historic Properties Reuse Study o
Page 3 and 4: Project Background Wabasha is a his
Page 5 and 6: Robert Claybaugh, AIA Historic Arch
Page 7 and 8: Approach The project team has sough
Page 9 and 10: Site Issues The Anderson House occu
Page 11 and 12: Community Issues Wabasha is the sea
Page 13 and 14: Downtown Issues Like many small com
Page 15 and 16: Hospitality Issues The Hurd/Anderso
Page 17 and 18: Marketing Issues The Anderson House
Page 19: ALTERNATIVES Disposition Alternativ
Page 23 and 24: REUSE SCENARIOS Based on the inform
Page 25 and 26: Anderson House Reuse Study Addendum

Historic Properties Reuse Study of the Anderson ... - City of Wabasha

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