AMORY – A deal to purchase the Park Hotel closed last week, and its new owner, Orein Holley of Hamilton, has plans to revitalize the 1926 landmark into living and restaurant space to make it a downtown destination.

“Each floor has its own individual character. The overall plan is to convert the upper-level quarters into two-room apartments on the south side and larger units on the north side facing First Avenue,” Holley said.

The first phase of the planned remodeling will concentrate on the ground floor commercial space. The front entrance will be moved over to create a new hallway dividing an expansion of First American National Bank from the restaurant and lobby areas.

Ivan Bryant, manager of the bank, served as the lender for the Park Hotel’s sale. He is also part of a team of local business people who are collaborating in the restoration and development of the hotel into restaurants and apartments.

The hallway will also serve as a tenant entry leading to an elevator. A mezzanine space will also be created overlooking the main restaurant to accommodate a less formal eatery featuring short orders that will open out onto a rooftop terrace overlooking the single-story annex along First Avenue.

“I plan to name the ground-floor restaurant Frisco 1529 to give tribute to Engine 1529 in Frisco Park. The former back dining and meeting room will be converted to accommodate booths for dining,” Holley said.

He plans to have the ground-floor remodeling of the expanded First American National Bank and restaurants completed in April for the Amory Railroad Festival. The work includes the rooftop terrace.

Subsequent phases of work will include creating apartments in the upper floors and dedicated tenant parking behind the building.

“I’ve already been contacted by a couple of prospective tenants to occupy apartments,” Holley said.

As the stately Park Hotel approaches its centennial in the upcoming decade, Holley hopes to capitalize on many people’s desires to move to central business districts such as Main Street.

Activity is planned to begin with an accelerated three-week demolition schedule. During that phase, dumpsters will be positioned on the front and back sides of the building for debris as the interiors will be cleaned and stripped of deteriorated finishes and flooring.

One example of the work needed is that the top two floors still have carpet in the halls that will be removed. The existing stairway will be refinished to reflect its original beauty.

“I want to save and recycle as much of the interior details as possible, such as the room numbers on the doors. I also want to have as much exposed brick as possible for interior walls,” Holley said.