MEDFORD, Ore-- A new hotel will be coming soon to the Rogue Valley International-Medford Airport(MFR). Around 4:40 p.m. on Monday, MFR announced that Jackson County and Kauri, LLC finalized negotiations for the project.
According to Jerry Brienza, MFR's Airport Director, the hotel will consist of at least 118 rooms and will be located on a 2.76 acre lot on the airport, within walking distance to the main terminal.
Brienza also stated that Kauri and MFR had been working on securing a lease and development agreement for more than a year while dealing with the several issues including: FAA land releases, flood plain studies and the pandemic.
"Both parties were very committed to this project and we worked together to move obstacles out of our way," he said.
The lease and development agreement will give Kauri three years to have construction work completed on the project. Officials say that it is estimated that at minimum, it will cost $15 million to build the hotel, but it is expected that it could cost even more.
Brienza also states that the new hotel will create more than 200 jobs, with 80% of the employees being local.