Stadium hotel developers to purchase Cherry Hotel

The city of Wilson plans to sell the historic Cherry Hotel to the same development company that is building a hotel at the new downtown baseball stadium.

City Council unanimously approved an amendment to the development agreement with New South Ventures Wilson, LLC during its regular monthly meeting Thursday. The amended agreement includes an assignment of rights and obligation to the development of the stadium hotel from NSV Wilson to the Bryant Corporation as well as a memorandum of understanding between the city and Bryant Corporation. Bryant Corporation will purchase the Cherry Hotel for redevelopment, which is a separate economic development agreement. The purchase of the Cherry Hotel could happen by Sept. 30, according to documents. The purchase price is unclear.

NSV is the overall private development partner with city for the new $212 million hotel, mixed use and residential development projects adjacent to the new stadium.

“We always expected to have an additional development partner with the (stadium) hotel, and found it in the Bryant Corporation, an experienced hotelier,” said Rebecca Agner, communications and marketing director for the city. The Bryant Corporation owns and manages three hotels in Kentucky and one in Pittsboro, according to the company’s website.

In December, City Council members approved a deal to bring the Milwaukee Brewers’ Single-A affiliate franchise, the Carolina Mudcats, to Wilson from Zebulon, their home for the past 32 years, along with a new $76 million stadium.

The Bryant Corporation would use the Cherry Hotel for its “staging, storage and related purposes during the construction of the stadium hotel or for other space as approved by the city,” according to documents. The Bryant Corporation will have until July 31, 2027, to submit a proposed development plan for the Cherry Hotel to the city. If the city doesn’t approve the plan by then, the city would have 90 days to give notice to repurchase the property for the 2024 sales price.

The city also agreed to provide the Bryant Corporation with the right of first refusal for any additional city-sponsored hospitality development or incentives in downtown Wilson through Dec. 31, 2034, according to documents.

The Cherry Hotel on Nash Street was built in 1917.

In 2022, developers with Raines Co. announced a plan to invest more than $23 million in the Cherry Hotel to create 101 guest rooms and a ballroom and establish 24-hour food service. The developers had announced a franchise agreement with Courtyard by Marriott in late 2019.

Assistant City Manager Rodger Lentz told the Times Thursday that the city hasn’t been under a development agreement with Raines Co. for some time now.

Council’s approval Thursday with the Bryant Corporation now puts the property under a binding agreement, city officials said.

Other meeting business items

• Council unanimously approved an ordinance for voluntary annexation of 31.31 acres and 1.033 acres located at 4401 Merck Road. A public hearing was held and no one spoke.

• Council unanimously approved an ordinance for voluntary annexation of 1.1912 acres of 4355 and 4357 Merck Road West and a zoning change for the same property. The property will go from agricultural residential to heavy industrial.

• Council unanimously approved a zoning change for 31.31 acres located at 4401 Merck Road from agricultural, agricultural residential, highway business district to heavy industrial. A public hearing was held and no one spoke.

These properties pertain to the expansion of Wilson Corporate Park.

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