LEWISTON – Where some see dilapidated mill buildings and a patchwork of odd structures, Bob Winston sees opportunity.

The Raleigh, N.C.-based hotelier was in town Tuesday, ready to answer questions the city councilors might have of his plan for Island Point, the eight-acre peninsula that juts into the Androscoggin River. Winston, founder of Winston Hospitality Group, is ready to invest $26 million in the project that includes a Marriott Courtyard hotel, a redeveloped Cowan Mill and new restaurant/retail complex.

“This is the gateway to your city, and that’s an opportunity to make a tremendous impact,” Winston said. “The area needs a new hotel; there is the demand. And the greatest opportunity is at that site.”

Winston’s been in the hotel business since 1991, growing Winston Hotels to 57 hotels across the country by 2005. Last summer, he and his shareholders sold the business to Inland American Real Estate Trust for $850 million; three months later he formed his new company, Winston Hospitality Group.

Free of the restrictions of a publicly traded company, Winston’s been going full tilt at his new projects. If city councilors approve the joint development agreement that he needs to make Island Point a reality, it will move to the top of his list.

“We hope to start in 2009 and have the hotel open in 2010,” he said.

But between now and then there’s a world of work to be done, much of it centered on the Cowan. Winston wants to build the hotel and develop multi-family rental housing in the mill simultaneously.

“It’ll be a challenge to make it work,” he said. But the tethered approach is necessary to create a unified vision appropriate for a historic gateway.

The 4-½ story brick building, which is named for a two-time city mayor, was built in 1850 on the site of the city’s first cotton mill, which burned. It’s been vacant for years. Coupled with the burnt-out remnant of the Libbey Mill behind it, the parcel was regarded more an eyesore than development opportunity.

But not to Winston, who checked out Island Point when a hotel deal he’d been working on in Portland died.

“We could not find the right site in downtown Portland,” he said. “And we really worked on that. Then we heard about Lewiston by word of mouth.”

Winston said his staff is performing due diligence now, checking the Cowan for structural integrity, environmental problems, and other issues that would complicate its development. At the same time, they are looking at floodplain issues where the hotel is expected to be sited behind Memorial Park.

Once they know where they stand, they can make a decision about how best to approach the project. Winston said his ideal would be to renovate the Cowan into higher-end, multi-family apartments, but he has to be reasonable about the costs.

“We have to make sure the Cowan is feasible, because of its age and condition,” he said, noting it was possible that the mill might not be salvageable.

But he’s hoping it will be saved, and is prepared to use every device available to make that happen. Because it is a historic structure, he intends to apply for federal and state historic tax credits to help finance the project. The Cowan’s redevelopment cost is pegged at $6 million; the hotel at $16 million; the retail/restaurant complex at $1.6 million; and an accompanying decked parking garage at $3 million.

The joint development agreement also calls for two Tax Increment Financing deals: one returns the garage’s property taxes to the developer for 20 years to offset operating costs, and the other is a $3.2 million debt service reimbursement that helps defray the upfront development costs that kicks in when the hotel, garage and Cowan are finished.

Winston said the city staff have been accommodating and easy and to deal with – a situation he welcomes since that’s not always the case. He also said he was impressed with the local hospitality people.

“It bodes well for investing here,” he said.

His dream is to blend as much of the city’s history into Island Point as he can so that it will be unique and reflect the city. Yet, he has to be sensitive to the Marriott brand. Popping the Libbey’s famed cupola on top of the Courtyard roof might not work, he quipped.

But it’s the unique location and sense of place that will give the Courtyard an edge over competitors, he said. He’s undertaken similar projects blending brand and sense of place: in Evanston, Ill., he built a hotel that incorporates the city’s ties with Northwestern University; in Kansas City he took a 1920s apartment building and converted it into a modern hotel.

Having an edge is important, especially with two competitor hotels under way. Each is eyeing the local market created by the two hospitals and Bates College. Is Winston worried?

“Three new hotels in this market? … No doubt about it … but we like to think this is our opportunity,” he said, smiling. “We have a great hotel with a great brand in the right place.”