SMITH BUCKLEY ARCHITECTS RENDERING
Vermont Business Magazine Scott Silver of Hospitality Funding has announced plans to redevelop a historic Burlington building into a new Cambria hotel at 266 College Street, the current location of the Greater Burlington YMCA. Cambria Hotel Burlington will preserve the historic facade of the existing structure, built in 1934, and will feature 142 guest rooms. The hotel is expected to open in 2021.
The Cambria hotel in Burlington will feature the following amenities:
- A rooftop bar and restaurant with striking views Burlington, the Champlain Valley, and the Adirondacks
- An environmentally friendly building with LEED gold building certification*
- Multi-function meeting space, equipped with versatile technology and reliable essentials
- Immersive, spa-style bathrooms with Bluetooth mirrors
- Contemporary and sophisticated guestrooms, complete with modern fixtures, abundant lighting, and plush bedding
- Onsite dining featuring freshly made food, local craft beer on tap, wine, specialty cocktails, and small bites
- State-of-the-art fitness center
- Locally inspired design
According to Seven Days, which broke the news Tuesday, Palm Beach, FL-based Hospitality Funding "'assumed the contract' for the property at 266 College Street last October from Montpelier lawyer Frank von Turkovich, who signed a contract to buy the historic building in 2016. City records show the property sold for $3 million; it was originally on the market for $3.75 million." Otherwise terms were not revealed for what would be part of the Choice Hotels group.
Google Maps image from August 2017 of the Greater Burlington YMCA at the corner of College and South Union streets.
Silver, Hospitality Funding’s chairman and CEO, is no stranger to Vermont. Silver is an alum of The University of Vermont, and his son is an alum of Champlain College – and currently resides in Burlington. “While I have many ties to Vermont, and specifically Burlington, it’s the sense of community and the natural beauty that is now drawing me back to do business here,” said Scott Silver, chairman and CEO of Hospitality Funding. “We were very proud to acquire the YMCA building and provide the final piece of the funding for their exciting new facility.”
In addition to the hotel’s amenities, Cambria Burlington will be focused on adhering to green standards. For the community at large, Cambria Burlington looks to be a true community partner through how they work with neighbors and local organizations to improvements to the neighborhood, including storm water drainage on South Union Street. Preservation of the Y's facade is an important part of the project. Hospitality Funding has selected a local design team to ensure that the look and feel of this project does evoke all that Burlington and Vermont have to offer.
“As the Y prepares to move to its new facility, we’re happy to hear that Cambria will offer visitors a place to stay here in the heart of Burlington,” said Kyle Dodson, President and CEO of Greater Burlington YMCA. “Our old building was designed to offer travelers overnight rooms—and this is a part of the mission that many Ys around the world still offer. So it’s fitting and exciting to think that the next life for our old building will be in some ways going back to its roots.”
Silver and the Hospitality Funding team will continue to work with Greater Burlington YMCA through their transition to their new space at the former Ethan Allen Club, 298 College Street. Once that’s complete in 2020, and pending final approvals, construction on Cambria Burlington is expected to begin.
Source: Burlington, Vt. (May 8, 2019)—Hospitality Funding