Overton County’s Industrial Development Authority heard plans Wednesday for a three-story Clarion Point Hotel proposed for the corner of Tom Davis and McAlpin Road.
Chair Shannon Cantrell said the 81-room development means at least a $9.1 million investment including construction and land acquisition.
“There’s some construction costs that we still need to figure out as far as the public infrastructure that is going to be needed along McAlpin Road,” Cantrell said. “Because we do plan to do all the improvements on McAlpin Road to make it what it needs to be to be the hotel entrance.”
Cantrell said the developer is seeking a Tax Increment Financing agreement to fund public infrastructure improvements. These would primarily focus on drainage and road work needed to establish the hotel entrance on McAlpin Road.
Secretary Zach Stevens said the addition of a hotel would address a frequent lack of local lodging options when area cabins and rentals are fully booked. Stevens said the project would keep tax revenue in Livingston that is currently being lost to neighboring Cookeville.
“I know that all of the Airbnbs and all of the cabins at Standing Stone are occasionally just completely sold out and so there’s no local option,” Stevens said. “It would be awesome.”
Cantrell said the project is expected to take between 12 and 18 months to complete once construction begins.
Cantrell said the development is expected to generate some $55,434 in local sales tax and $88,695 in city occupancy tax annually. The project would be completed in phases, with the hotel serving as the first step before potential retail and restaurant expansions.
“We want convenience at the hotel, but then at the same time, we want people to come out and spend money in the community and eat at our restaurants and shop and things like that rather than spending it there in the hotel,” Cantrell said. “That’s the goal.”
“It’s going to be very pretty,” Cantrell said. “It’ll look very nice sitting up there on the hill.”
The Quantum Holdings, LLC project would encompass approximately 39,342 square feet.