Rotary Club of Hutchinson listens to update on Meyer Landmark Project

EMMIE BOESE 
Hutch Post

HUTCHINSON, Kan. — Laura Meyer Dick gave an update about the Meyer Landmark Project at the Rotary Club of Hutchinson on Monday.

The project is inspired by her late father and prominent community member Nation Meyer who was long-time President of First National Bank in Downtown Hutchinson.  

Michael and Laura Meyer Dick  purchased the 37,000 square foot downtown Landmark Hotel and plan to revitalize the historic building into a 40 unit apartment complex. The total project cost is set at $13.5 million. 

"It really is a beautiful building and if I would have walked in and couldn't get a vision of what it could look like, we probably wouldn't have bought it," Meyer said to the Rotary club. 

Justin Pregont, the developer of the project, presented a construction timeline for the hotel and the capital stack for the project.

Pregont said the timeline of the project will be steady if the final bits of construction and lease up can be finished in the fall of 2026.

"It takes about a year to design this type of a project and go through the State Historic Preservation Office, so if things all come together really well that's great," Pregont said. "I sometimes tell people that doing a development project like this is sort of like trying to build a 24 or 36 ring venn diagram. If one of those rings comes out of alignment, we don't have a deal." 

The money for the project includes Equity Investors, State Historic Tax Credits, Federal Historic Tax Credits, Kansas Housing Investor Tax Credits, Moderate Income Housing Grant, Revitalization Housing Incentive District, Heritage Trust Fund Grant, City of Hutchinson Housing Grant, Other Gap Financing Programs and Long Term Debt. 

For a more specific breakdown, the City of Hutchinson was awarded a $650,000 grant from the Kansas Housing Resources Corporation as a part of the MIH (Moderate Income Housing Grant and Meyer Landmark, LLC was awarded $1.2 million in KHITC (Kansas Housing Tax Credits) for the project. Total amount from both grants combined is $1.8 million.

The project is in the Historical and Architectural Plan Production phase. Construction is estimated to begin in March of 2025 according to Pregont.  

Formerly known as the Stamey Hotel, The Landmark Hotel was featured in the 1952 film Wait Till the Sun Shines, Nellie. The hotel is located at 501 N. Main St. in Hutchinson.

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