Creative Boutique Hotels, LLC Secures First Tourism Governor’s Grant
St. Paul, Virginia - Governor Terry McAuliffe announced that the first recipient of the Virginia Tourism Growth Fund (VTGF) will be the Western Front Hotel in St. Paul, Virginia. The VTGF is a Virginia Tourism Corporation (VTC) program established to grow tourism development projects across the Commonwealth of Virginia. The grant is a partnership between the State of Virginia, the Town of St. Paul and the developers. The grant awarded was for $250,000.
Virginia-based Creative Boutique Hotels (CBH) is the developer and owner of the project. CBH is a partnership which includes MB Contractors who will handle the construction; Hal Craddock and Architectural Partners who will handle the design plan; and Cornerstone Hospitality who will manage the interior design, product services and operations. The project is also utilizing State and Federal Historic Tax Credits, a low interest loan from Virginia Coalfield Economic Development Authority (VACEDA) and various grants from other state agencies. “In a small community, projects like the Western Front Hotel would not be possible without the use of various forms of grants and tax credits. They just are not viable through a traditional equity and lending process,” said Todd Morgan, MB Contractors. “We’re fortunate to have access to these resources in Virginia and that we have a very dynamic group of people to work with in St. Paul.”