Erie is already putting its City Revitalization and Improvement Zone (CRIZ) designation to work, with the Erie CRIZ Authority recently approving funding for its first four local projects. This initiative allows Erie to capture and retain tax dollars to support significant development efforts, marking a major step forward for the city’s growth and revitalization.

Harbor Place Hotel: A $32 Million Dream Realized

One of the most notable projects receiving CRIZ funding is Scott Enterprises’ $32 million Harbor Place Hotel plan. The high-end AC Marriott hotel, which will feature a rooftop restaurant, is set to become the most upscale hotel the company has ever built, according to Nick Scott, President and CEO of Scott Enterprises. The project will be located just east of the company’s Hampton Inn and Suites Erie Bayfront.

Scott described the $7.5 million CRIZ loan for the hotel as a “dream come true.” The hotel is part of a larger multi-phase development that will include apartments, office spaces, and recreational amenities such as an ice rink. “We wanted Harbor Place to be a functioning, well-thought-out destination in Erie, and we’re able to do that now with the help of the CRIZ and make it on the grand scale that we envisioned,” Scott said.

Renaissance Center Transformation: The Boutique “Trust Hotel”

Another transformative project benefiting from CRIZ funding is the $59 million plan to convert the Renaissance Center into the boutique “Trust Hotel.” California developer Christian Siembieda will receive $5 million in CRIZ support to bring this vision to life. Brian Polito, the first Executive Director of the Erie CRIZ, expressed his enthusiasm for the project, noting its potential to bring a big-city feel to Erie. “It’s a lot like many of the hotels you’ll see in big cities, so I’m excited that we were able to help support that project and get it across the finish line,” Polito said.

School House Apartments: Housing for the Chronically Homeless

The Hamot Health Foundation’s BUILD Initiative is also set to benefit from CRIZ funding. The $9.5 million School House Apartments project will transform the former Washington School into 22 apartments for chronically homeless individuals. Supported by the Erie Community Foundation and Infinite Erie, the project will launch with a $4 million CRIZ grant and a $700,000 loan.

Charles “Boo” Hagerty, President and CEO of the Hamot Health Foundation, highlighted the importance of the funding in making the project a reality. “A $9 million project is daunting, and when you have something like the CRIZ that can get it to the top and get you there so you can start housing the homeless, it’s a very exciting day for us,” Hagerty said. The building will also house Safe Harbor Behavioral Health and Hamot Regional Health Service, providing mental health care, physical health care, and addiction services on-site.

The CRIZ Advantage: Bridging Funding Gaps

The CRIZ program is designed to fill financing gaps for projects that might otherwise struggle to secure funding. “There are a lot of projects that, for one reason or another, just didn’t pencil out, weren’t fundable,” Polito explained. “And that’s really where the CRIZ shines. The CRIZ can come in and fill those financing gaps and really make those projects a reality.”

To ensure Erie maximizes the potential of the CRIZ program, the city is moving quickly to avoid losing the first $15 million in tax capture potential. Polito revealed that he has eight or nine additional shovel-ready projects in the pipeline, which he hopes the CRIZ Authority will submit to the state by the end of the year. These projects represent approximately $50 million in CRIZ funding requests and could result in $208 million in construction activity in Erie over the next few years.

A Bright Future for Erie

With the approval of these initial projects, the Erie CRIZ Authority is setting the stage for significant economic development and revitalization in the city. From luxury hotels to housing for the homeless, the CRIZ program is helping to turn ambitious plans into reality, ensuring a brighter future for Erie and its residents.