Finanta, PeoplesBank and Hotel Lancaster Announce Financing Deal for Property Redevelopment Project
Lancaster, PA (June 1, 2018) – This morning Daniel Betancourt, President and CEO of Finanta, The Honorable Danene Sorace, Mayor of Lancaster, Eric Warfel, Senior Vice President and Director of Commercial Lending for PeoplesBank, Lyle Holser, Vice President of Economic Development Company of Lancaster County (EDC), and local real estate developer John Meeder, formally announced the completion of a multi-faceted financing deal for a project in the heart of Lancaster.
Lancaster developers John Meeder and Sam Wilsker, along with a group of investors, recently closed on a $23 million financing package to convert The Hotel Lancaster, formerly the Brunswick Hotel, into a Holiday Inn Resort. The remodeled hotel will accommodate 86 new guest rooms, along with a full-service restaurant and banquet facilities. Once completed, the facility will create 66 new jobs and retain 36 jobs for a total of 102 employment opportunities in downtown Lancaster.
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