$7.5 Million Sought to Complete Holiday Inn

Restaurateur George Liaskos dreamed for years of building and operating a hotel. But not just any hotel; he wanted a trend-setting, energy-efficient hotel, one on the leading edge of the “green” trend in construction, a facility that would consume but 30 percent of the energy used by a traditional hotel while still providing the key elements of the hospitality trade-a good night’s sleep, plenty of hot water, good water pressure and a good pillow.

In addition to his dream he has a site with several attractions, an energy-efficient foundation in place, economic incentives and all necessary approvals from the city of Peekskill. The remaining major obstacle is financing. Liaskos needs $7.5 million to turn his dream into reality. Much of his time is consumed with his quest for a willing lender but banks and other potential sources of funds remain skittish in the wake of the economic downturn of 2008, despite hints of recovery.

Undaunted, Liaskos pushes onward, his passion evident as he cites what he considers the superior aspects of his Holiday Inn Express for its patrons, its builder and the environment of Planet Earth. Make one more phone call, send one more e-mail, schedule one more meeting with a potential lender-the one that just might unlock the financial reservoir that will provide Peekskill with one of the most energy-efficient hotels in the United States.

“The project will happen,” he vows in between calls and meetings at the Cortlandt Colonial Restaurant, which his family has operated since 1978.

“I’m going to do it,” he recalled deciding in 2007 after many years of thinking about the project. The logical location, he said, was next to his restaurant, by the Rock Cut on Albany Post Road in the Annsville section of Cortlandt. He leveled the hill next to the restaurant in anticipation of building but, as he described events, was unable to come to terms with the town. He turned to neighboring Peekskill, where he found a welcoming attitude and a site available for immediate construction – the southeast corner of John Walsh Boulevard and Louisa Street, part of the former Fleischmann complex on Charles Point. Site remediation work was completed and the foundation was built.  

Then the country spiraled into recession in 2008. Lenders became much more conservative, questioning the viability of a hotel at a time when out-of-towners, keeping a close watch on their dollars, were more likely to drive back home or stay with a relative after an event than book a room. Nevertheless, Liaskos believes the economy will rebound and his hotel will rise. He estimates that it will be completed within seven months of securing financing.

Attractions of the 74-room Holiday Inn Express begin with its location – half a mile from the Peekskill train station and less from the Louisa Street interchange with Route 9. Many of the city’s restaurants, art galleries and other attractions are less than a mile away. The site offers sweeping views of Peekskill Bay, the Hudson River, the southern gateway to the Hudson Highlands and the graceful Bear Mountain Bridge. The Fleischmann Pier and the benches of its adjacent park are across Louisa Street. Resco’s garbage-to-energy plant, across John Walsh Boulevard, is screened by trees.

The Holiday Inn will be one of the first LEED (Leadership in Energy Efficiency and Design) Platinum hotels in the country, according to the U.S. Green Business Council. Platinum is the highest rank of the four-level LEED system, which the council describes as “an internationally recognized green building certification system.”

Energy efficiency and savings begin at the foundation, which was built with the aid of IntegraSpec, an insulating concrete form system that the Phil-Insul Corp. of Kingston, Ontario, describes on its Web site (www.IntegraSpec.com) as “an innovative building system that builds stronger, safer, quieter, energy efficient and environmentally friendlier homes and structures. … Once stacked together, these [polystyrene] forms represent a mold ready for concrete placement similar to a traditionally poured concrete wall; however, … forms never leave the concrete, providing structural support … insulation … [and an] air/vapor barrier. … All in 1 step, with one crew/contractor in less time.”

Awaiting financing are five floors of rooms, which Liaskos said would be quieter than usual because the walls would be of solid concrete, with 2.5 inches of insulation on each side. Specialized areas will include a pool, business center and meeting room. The building is designed to meet the standards of the International Earthquake Code.

A hand-made 4-foot replica of Henry Hudson’s ship Half Moon will welcome visitors at the main entrance. Kiosks and display panels will tout the hotel’s environmentally friendly aspects and the steps that were taken to reduce its environmental footprint. Despite initial higher costs, Liaskos estimates that the environmentally friendly features will pay for themselves in 10 years or less. In addition to be environmentally responsible, “It’s cheaper to run,” he said.

Among the Holiday Inn’s features:

• Compared with a conventional hotel, it will use some 70 percent less energy and 58 percent less water.
• Odorless carpeting, lacquers and glues will be used, with strict air sampling before opening – a boon to allergy sufferers.
• Rainwater will be collected for use in laundry and toilets.
• Air exchangers will transfer heat and cold in the airtight building, reducing the cost of warming and cooling.
• The roof will be home to solar panels and windmills. The building will also draw geothermal energy from the earth.

Liaskos said there is plenty of demand for a hotel in the Peekskill area, with the Holiday Inn’s environmentally responsible design an added attraction.

The inn is featured on the economic development section of the city’s Web site (www.cityofpeekskill.com), which notes, “The Hotel has received all planning commission approval and incentives from the City of Peekskill’s Industrial Development Agency.”  

For additional information, please visit www.greenholidayinn.com

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