Thursday, January 5, 2012

Lord Jeff returns

Lord Jeffery Inn

After a too long hiatus of three years the historic--now LEED certified--Lord Jeffery Inn, revived by a $14 million overhaul, has returned to service as a downtown anchor just off the Amherst town common.

Amherst College President Biddy Martin welcomes the crowd

The project was originally announced as a $20 million endeavor but the stock market chill took a major bite out of Inn owner Amherst College's $1.3 billion endowment, so revitalization plans went into hibernation.

The return of the majestic old Inn that first opened in 1926 is good news for Amherst College, providing a high profile location to entertain important visitors and even better news for the bottom line of the town's coffers. Like their 111 year old Amherst Golf Course, the Lord Jeff Inn is on the tax rolls with an assessed value to jump from the current $2.4 million already up from $832,600 last year resulting in significant tax monies paid to the town to provide vital services.

Representative Ellen Story: Along with Jones Library the Lord Jeff is the "heart" of Amherst

Amherst also enacted the extra local option tax on food and lodging thus providing yet another lucrative benefit of having a new hotel/restaurant open for business. All in all, a great day for downtown Amherst.
Staff and dignitaries on one side spectators and media on the other
Town Manager John Musante


3 comments:

Anonymous said...

They also will be paying a substantial sum into the new Business Improvement District, to help promote and beautify downtown.

LarryK4 said...

True enough. Now maybe The Chamber can afford some new Christmas, err, holiday lights for the Merry Maple.

The Common Wealth said...

1.3 billion for a liberal arts school of less than 2000, seems to me they should kick a bit more towards the town coffers in my book, especially they tax the emergency services more than UMass or Hampshire percentage-wise.