5280 Willow Hospitality, LLC | Hospitality Financing
Clearinghouse CDFI provided $11,712,240 in financing to Benchmark Development to support the acquisition of the 93-room Fairfield by Marriott Inn & Suites in Verona, New York. The hotel is located on the Oneida Nation Reservation adjacent to Turning Stone Resort & Casino. Because it sits on reservation land, Oneida Indian Nation acquired the property and established a ground lease, placing it under Oneida Indian Nation ownership while allowing Benchmark Development to operate the hotel.
The 53,259-square-foot, ENERGY STAR®-certified hotel sits on a 4.04-acre site and serves 31,000 guests annually. The project is expected to create four construction jobs over the next year while retaining 24 permanent positions, supporting continued employment and tourism in the region.
This financing builds on Clearinghouse CDFI’s ongoing relationship with Benchmark Development, who previously partnered with us to develop a 110-room Hampton Inn, also on Oneida Nation land in Verona, NY. Benchmark continues to invest in hospitality in the area, strengthening the local lodging market and fostering long-term economic opportunity on Oneida Nation land.
#25NY-7986
Expands Native American ownership of a strategically located hospitality asset while preserving jobs, supporting tourism, and encouraging continued investment on the Oneida Nation Reservation.
To provide financing that strengthens regional economic development and preserves quality hospitality infrastructure, creating lasting community benefit in a designated CDFI Investment Area.
