HASTINGS - The City of Hastings and the Hastings Economic Development and Redevelopment Authority (HEDRA) officially transferred ownership of the former Hudson Manufacturing Building, located at 200 West Second St., to Confluence Development on March 5.

"We are excited that the transfer of the Hudson property to Confluence Development group is complete," said Hastings Mayor Paul Hicks. "This project will be an exciting addition to Hastings and our Riverfront. Creating a vibrant center of economic renewal while preserving a piece of our past is a win-win for everyone in Hastings."

Hicks said he is looking forward to the next steps of development.

Confluence Development is planning a historic renovation of the 100,000 square foot industrial property that will house a 67-room hotel, 22 apartments and 20,000 square feet of retail and event space.

The area between the Hudson Building and the Mississippi River will be transformed into a park extending the City's Riverfront Renaissance improvements further west along the Hastings RiverWalk.

In addition, Confluence Development has purchased the former First National Bank Building located at 119 West Second St. They plan to demolish the existing building for construction of a 119-stall parking ramp open to the public.

According to the purchase agreement, Confluence must submit building plans by Aug. 1, with construction to commence within 30 days after issuance of a building permit. The building must be substantially completed by December 15, 2019.

Development of the Hudson site addresses the last industrial property along the Mississippi River, completing a 30-year transformation of the Hastings riverfront into parkland and open space.

"Preservation of the Hudson building was not the quickest or easiest way to develop the property," said John Hinzman, community development director for the City of Hastings. "The length of time involved in environmental cleanup and finding a developer willing to take on the project of this complexity was a challenge, but this is HIstoric Hastings. We find incredible value in taking on challenging preservation projects that are vital to showcasing and celebrating our history."

The original Hudson Manufacturing Building was constructed in 1914. Hudson Manufacturing produced handheld sprayers at the site from 1914 until 2011. The City and HEDRA purchased the building in December of 2010 and have been working with Confluence Development since December 2013.

Confluence Development is comprised of local Hastings businessman and resident, Pat Regan, and Louisville-based developer Bill Weyland of Weyland Ventures. Regan developed Schoolhouse Square in Hastings and is an active real estate investor and developer. Weyland Ventures has experience in rehabilitating historic structures including the creation of mixed-use developments in former manufacturing facilities.