On Wednesday, July 15, 2015, the Altoona-Blair County Development Corp. helped open the new Microtel Inn & Suites by Wyndham in Altoona, Blair County, PA.
The new 72 unit, four story hotel is owned and was developed by Jaggard Street Realty comprised of Drs. James Marcelli and Greg Fulchiero. The dedication event included various dignitaries, the management team at Sky Hospitality, lenders from Reliance Bank, the SBA’s Pittsburgh District Office, and the U.S. Department of Agriculture.
Funding for the project was provided through a number or sources with Reliance Bank serving as the lead lender for the project. ABCD Corp. provided several sources of economic development financing including the SBA 504 Loan Program, ABCD Corp.’s Enterprise Zone Fund, a USDA IRP Loan, and a loan from the State Small Business Credit Initiative.
“We are excited to be expanding the award-winning Microtel Inns & Suites by Wyndham brand into Altoona and look forward to serving the local community. Our goal is to bring to the area a high-quality hotel that offers excellent amenities and outstanding customer service at an affordable price,” said Patrick Breen, brand senior vice president for Microtel Inn & Suites by Wyndham, in a statement.
“By opening the newest hotel here in Altoona, entrepreneurs like Jim and Greg are helping provide a needed service while making job opportunities available,” said Dr. Lori Bechtel-Wherry, Chancellor of Penn State Altoona and ABCD Board Member.
On behalf of the Board of Directors and Staff at ABCD Corp., we want to congratulate Jim and Greg on the completion of their project
