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By: David Young, The Reporter-Herald
9/26/2007
Another hotel has been announced near the Interstate 25 and U.S. 34 intersection — this time in Johnstown.
A Homewood Suites by Hilton hotel is planned to open by spring of 2009 in the 2534 development southeast of U.S. 34 and I-25.
Louisiana-based InterMountain Management LLC, who will develop and manage the new hotel, acquired 2.55 acres of vacant land in the 2534 development from Location, Location, Location LLC for $1.54 million.
Builders of the 100-room hotel, just west of the Eheart Home Decor location, have not named a contractor yet, but they are expected to start construction by the end of the year, said Shawna Brown, spokes-women with InterMountain Management.
“It is a great location. There is a lot of growth,” Brown said. “Loveland is rapidly growing, and this is a perfect fit for this particular brand.”
2534 is a 542-acre mixed-use development that includes retail, office, light industrial and residential.
Nick Christensen, managing principal for Chrisland Inc., also finds the hotel a good fit.
“A hotel makes a lot of sense with proximity to the (Interstate) 25-(U.S.) 34 interchange and all the retail in the area,” said Christensen.
It will be the third new hotel to be built in the neighborhood.
One exit north of 2534 on I-25 at Crossroads Boulevard, a Holiday Inn Express and Embassy Suites are currently under construction.
And across I-25 from 2534, a Hampton Inn, Fairfield Inn by Marriott and a Residence Inn are currently open in Centerra.
McWhinney, a Loveland developer, has also announced plans to build a Hotel Valencia, Courtyard by Marriott and Hilton Garden Inn in the proposed Grand Station Development northeast of I-25 and U.S. 34 adjacent to The Promenade Shops at Centerra.
That totals nine hotels in a five-mile radius.
Brown said, based on Homewood Suites’ timing, she is not worried about demand for the new hotel.
Christensen said 2354 is a prominent location for Homewood Suites and expects it will do very well. “We used marketing effort. We did target it (a hotel), and other possible hotels may be brought in,” Christensen said.
Homewood Suites has 200 locations, including one in Fort Collins.
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