ARLINGTON, VA. — Chevy Chase, Md.-based JBG Cos. has broken ground on the Renaissance Crystal City Potomac Yards and the Residence Inn Crystal City Potomac Yards. The property, which encompasses the two hotels, is being built to LEED standards. Renaissance Crystal City, located on Potomac Avenue in Arlington, will feature 300 rooms, a 10,000-square-foot ballroom and 10,000 square feet of meeting rooms. The 325-unit Residence Inn will feature dishwashers and full-sized refrigerators in each room. Delivery is slated for winter 2010.
EL PASO, TEXAS — San Antonio-based K Partners Hospitality Group has broken ground for the construction of a $24 million, two-hotel complex in San Antonio. The 5–acre, $24 million project is located at Remcon Circle, at the southeast intersection of Interstate 10 and North Mesa Street. Construction will consist of a four-story, 103-room Springhill Suites and a four-story, 95-room Fairfield Inn & Suites, both of which are Marriott brands. The Springhill Suites will feature an outdoor swimming pool, a fitness center, 1,100 square feet of meeting space, an executive boardroom and complimentary Internet access. The Fairfield Inn & Suites will feature an indoor swimming pool and whirlpool, 600 square feet of meeting space, an executive boardroom, a business library, ergonomic work areas and complimentary Internet access. The former hotel is expected to open in the second quarter of 2009, while the latter hotel is expected to open in the third quarter of 2009. Construction financing is being provided by Atlanta-based Specialty Finance Group.
ROBINSON, PA. — Chattanooga, Tenn.-based CBL & Associates and Charlotte, N.C.-based Faison Enterprises have announced that a 124-room Courtyard By Marriott will join the tenant roster at Settlers Ridge, a 600,000-square-foot, open-air shopping center that the two companies are developing in Robinson. The hotel will be developed by Concord Hospitality. It will feature a restaurant and lounge, meeting space, a central courtyard, an exercise room and a swimming pool. The project is scheduled for completion in November 2009. Settlers Ridge will be anchored by a 150,000-square-foot Giant Eagle Market District supermarket, a 16-screen Cinemark theater, LA Fitness, REI, a national bookstore and two clothing stores. The project also will feature 150,000 square feet of specialty retail stores and a roster of restaurants that will include P.F. Chang’s.
LOVELAND, COLO. — John Q. Hammons and Springfield, Mo.-based John Q. Hammons Hotels & Resorts is developing Embassy Suites® – Loveland Hotel, Spa & Conference Center in Loveland. Located at 4705 Clydesdale Pkwy., the eight-story hotel will feature 263 suites and 80,000 square feet of meeting space. Each guest suite features a private bedroom, a living room, two LCD televisions, a refrigerator, a wet bar, a microwave oven, a coffee maker, two telephones with data ports, high-speed Internet access, a work desk and an in-room safe box. The hotel will offer room service, same-day dry cleaning, daily cooked-to-order breakfast and a daily two-hour manager reception. Other amenities include a fitness center, an indoor pool, a sundeck and therapeutic spa treatments at the full-service Spa Botanica, John Q. Hammons’ signature spa. The hotel will be owned by John Q. Hammons and managed by John Q. Hammons Hotels & Resorts. Completion is slated for March 2009.
ALBANY, N.Y. — The grand opening has been held for TownePlace Suites / Albany Empire State, a 106-suite, extended-stay hotel located at 22 Holland Ave. in Albany. The seven-story building features an indoor pool, complimentary wired and wireless Internet access, and 400 square feet of meeting space. Each of the two-room suites features separate living and sleeping areas, a fully equipped kitchen, and a work station. The hotel is owned by Lake Ronkonkoma, N.Y.-based True North Development Group and will be managed by Interstate Hotels & Resorts.
SAN ANTONIO — CB Richard Ellis Hotels Group (CBRE) has assisted in securing a developer for the hotel portion of Éilan, a 120-acre mixed-use project currently under development in the La Cantera neighborhood of San Antonio. Through an RFP, CBRE helped bring aboard Park City, Utah-based Gemstone Hotels & Resorts to develop an approximately 200-room, boutique hotel on the site. Bert Stevens and Lisa Hankamer of CBRE helped negotiate the agreement. Upon completion, Éilan will contain 1.5 million square feet of new development, including two Class A office buildings totaling more than 200,000 square feet, approximately 1,400 upscale residential units, 30,000 square feet of boutique retail space, a chapel, an amphitheater, a specialty grocer and the hotel component. The project is being developed by Wereldhave USA, a division of Wereldhave Belgium.
GOLDSBORO, N.C. — TRB Goldsboro, an affiliate of BRT Realty Trust, has sold a former Quality Inn of Goldsboro to Southern Hotel Partner for an undisclosed amount. The buyer plans to renovate and rebrand the 111-room hotel. David Mumford, Ed James, Justin Pinkard and Matt Winston of Newport News, Va.-based Mumford Co. represented the seller.
MANNING, S.C. — South Carolina-based EWS Investments has sold the 57-room Best Western Palmetto Inn located in Manning to Raghuvans LLC for $1.75 million. Hotel amenities include an outdoor swimming pool. Atlanta-based Hodges Ward Elliott represented the seller.
CORTLAND, OLEAN AND ELMIRA, N.Y. — The Pittsford, N.Y., office of U.S. Realty Capital has arranged three loans totaling $10.7 million for the refinancing of three New York hotels. The properties include an 81-room Country Inn & Suites located in Cortland, a 77-room Country Inn & Suites located in Olean and a 48-room Econo Lodge located in Elmira. Rob Pisanelli of U.S. Realty Capital secured the loans on behalf of a national hotel group through a regional bank. The loans carry a 75 percent loan-to-value ratio and a 25-year amortization schedule.
STEAMBOAT SPRINGS, COLO. — The Atira Group is investing $875 million in two Steamboat Springs developments: Edgemont and Thunderhead/Ski Time Square. The company is investing $175 million in Edgemont, a direct ski-in/ski-out community located on the edge of the Steamboat Ski Resort. With building completion slated for 2010, the project will offer one- to five-bedroom residences. Additionally, the development features an outdoor heated pool and hot tubs, a fitness center and sauna, a family room with pool tables and foosball and a community barbeque and fire pit. Additionally, The Atira Group is investing $700 million in the redevelopment of Thunderhead/Ski Time Square. Under development in a joint venture with Cafritz Interests, the 7-acre site will offer ski-in/ski-out access to a new pedestrian-friendly mixed-use development along Burgess Creek.