RidgeGate adds hotel options with Marriott TownePlace Suites

The Marriott TownePlace Suites will be the second of three hotels planned for the West Village at RidgeGate in Lone Tree.

The second of three hotels planned for RidgeGate’s West Village in Lone Tree is slated to break ground this month and open in second-quarter 2017.

Park Meadows TPP LLC, affiliated with San Antonio-based Propel Cos., purchased a 3.31-acre development site from Ridgegate Investments Inc. for $2.49 million, according to public records. It will develop a 121-room Marriott TownePlace Suites, an extended-stay brand, on the property.

“It’s always been the plan to have three different hotel types in the West Village to offer a range of choices for people who are traveling for pleasure or business,” said Keith Simon, executive vice president of Coventry Development Corp., RidgeGate’s developer. “We’re happy to have the extended-stay product coming soon and we think there will be strong demand for it,” he said.

Simon said a number of businesses within and outside of RidgeGate will make good use of the extended-stay product type. Those are likely to include families of patients at Sky Ridge Medical Center, patients of Colorado Center for Reproductive Medicine, which draws people nationally and internationally, as well as visitors to Charles Schwab’s campus and others.

The West Village currently houses a Hampton Inn & Suites, a limited-service product. There also are three groups interested in buying land for an Embassy Suites hotel, a full-service product that would complete the menu of hotel offerings at RidgeGate.

The TownePlace Suites will be a four-story building with rooms offering kitchens and work areas, and common amenities including outdoor seating, complimentary breakfast, an indoor pool and fitness center. There also will be a covered bike pavilion at a trailhead that is part of the RidgeGate community. The pavilion will include a drinking fountain, air pump, seating and benches that will be available to both hotel guests and the public.

Open Studio Architecture in San Antonio is the architect for the hotel, which will incorporate stucco, stone and exposed timbers. It will be built by Propel Construction and operated by Propel Management.

The hotel will be located just west of Cabela’s. “The buyer of this property found a gem in this site as Marriott customers can walk less than 500 feet to shop at Cabela’s,” said John Winslow of Winslow Property Consultants, who was not involved in the transaction.

In addition, there are plans for 70 residential lots directly to the west, and a Sierra Grill restaurant will be developed just to the north, Winslow said.

RidgeGate is a 3,500-acre master-planned community that includes Sky Ridge Medical Center, the Schwab campus, a range of housing and retail, and a future light-rail station that is part of the Regional Transportation District’s southeast rail line extension.

According to Simon, there are only a few sites left for development within the West Village. Additional development will occur on the east side of I-25, where two light-rail stations are slated to open in late 2018.

Featured in CREJ’s Feb. 17-March 1, 2016, issue

Jill Jamieson-Nichols has been an Editor with the Colorado Real Estate Journal for more than 15 years, providing coverage of office, industrial, hospitality and mixed-use development news in the Denver metro area, plus all property types in Northern Colorado, Boulder County and along the Highway 36 corridor. Prior to joining CREJ, Jill was Editor of…