Erie Pennsylvania Sheraton Hotel
Erie, Pa. officials were accompanied by representatives of Erie Sheraton Hotel Group, Inc., a one-stop real estate developer specializing in hotels and conference centers, to open the first phase of the hotel's $1.2 billion renovation and expansion project. Developed in partnership with the City of Erie and the Pennsylvania Department of Environmental Protection (DEP), the project includes a 5,000 square foot hotel, a conference center and a pedestrian skywalk in Presque Isle Bay. Located on the corner of West Dobbins Landing and Sassafras Pier, connected to the newly built Bayfront Convention Center Complex located on SassAFras Pier and close to the hotel, the Skywalks will serve as public access during the day and pedestrian access at night. In addition to its coastal location, canal crossing, and adjacent to a public park and recreation area on the west side of Presqu'ile Island Bay, both located at the eastern end of downtown Erie's waterfront, a pedestrian skywalk will be on display that offers scenic views of Lake Erie and downtown skyline, with a number of pedestrian and skywalk locations in all cities.
The rooms of the full-service hotel are surrounded by water on three sides and occupy the upper six floors. In addition to an elegant lobby, the ground floor features a spacious lobby with a fireplace overlooking Lake Erie and the bay, and a large courtyard.
The Sheraton Marriott complex, including its multi-story parking lots, is valued at $49 million. The Bayfront Convention Center opened in 2007 as the largest convention center in the United States and the second largest in North America.
At full tax, the property tax would total $1.7 million, and the Erie school district would collect about $860,000 in annual tax revenue.
The Erie County Convention Center Authority awarded the hotel development rights to Acquest in 2004, and funding for the project was secured through a $1.5 million grant from the Pennsylvania Department of Economic Development. The Convention Center Authority argues that requiring it to pay property taxes for a hotel would damage its finances, but that the law clearly insulates the property from property taxes.
The General Assembly passed the Center Act in 2000 and amended it in 2004 to include hotels in the Convention Center facilities. It also ruled that even uses not related to the event and related events fall under the statutory mandate of the Convention Center Authority.
Bozza, who called his ruling the first of its kind in the country in an evaluation of state law on the issue, maintained the status of the hotel complex, which has been open since it opened, although it was overturned. However, it did not receive a law on property taxes and agreed that the state laws that created the authority made its authority and its state immune from taxation.
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The Erie County Convention Center Authority owns a network of interconnected hotels and the Bayfront Convention Center, located on the corner of Main Street and Erie Boulevard in downtown Erie, Pennsylvania. As someone who has stayed at this hotel before, I am sure no one would experience a first-class hotel in the metropolis like this, but others have told me that it is one of the best hotels in the state of Pennsylvania, if not the nation.
AcquestAcquest Realty Advisors, Inc. was founded in 1980 and has been providing real estate services for more than two decades. Acquestacquest Realty Advisors, LLC, a subsidiary of AcQuestAcQuest Realtors Inc., was founded in the 1980s and provides real estate services to Morehead, Pennsylvania, home to the Erie County Convention Center Authority and Bayfront Hotel.
Acquest will oversee the management of the hotel, while Merrillville, Indiana-based White Lodging Services Corp. will oversee the day-to-day operations of the hotel. Acquest is a team of development and management experts specializing in successful public-private partnership projects that bring lasting value to communities.