Historic Park Inn

Iowa

DEVELOPER:

Wright on the Park, Inc.

BACKGROUND:

The last remaining Frank Lloyd Wright-designed hotel in the world, Historic Park Inn lay vacant for years until the Mason City Council requested assistance in reviving it. In response, local citizens formed Wright on the Park, a non-profit dedicated to restoring and managing the hotel, transforming it into a catalyst for economic investment in the area.

TOTAL DEVELOPMENT COST:

$18.9 million

KEY FINANCING:

  • Federal historic tax credits
  • State historic tax credits
  • New markets tax credits
  • Vision Iowa grant
  • Grants from Iowa Great Places and the National Trust for Historic Preservation's Save America's Treasures programs

IMPACT:

  • Created pride and sense of place in community
  • Serve as catalyst to economic revitalization of downtown Mason City
  • Attraction of annual Frank Lloyd Wright Conservancy meeting
  • Opening of restaurant to serve as nightlife destination