TownePlace Suites coming at corner of Newberry, Tower roads
Published: Wednesday, March 20, 2013 at 5:16 p.m.
Last Modified: Wednesday, March 20, 2013 at 5:16 p.m.
The former Gainesville Hotel and Conference Center just west of Interstate 75 is being demolished to make way for a TownePlace Suites by Marriott extended stay hotel with a restaurant outparcel fronting Newberry Road.
Development plans have not yet been submitted to the Alachua County Department of Growth Management, but Charlotte Smith said the hope is to have the hotel and restaurant open by football season.
Smith, of Orlando-based BlueRock Real Estate Services, is marketing the outparcel, which is being offered for $1.5 million. She said she is talking to several national restaurants from fast food to "sit-down, have-a-beer restaurants."
The hotel is being developed by Gainesville Investment Lodging, a partnership formed by the Desai family of Sanford. Smith said they own other Marriott and Hilton hotels.
Gainesville Investment Lodging bought the hotel out of foreclosure in October 2012 for $1.05 million, 10 percent of the purchase price Keystone Gator Hotel Campus paid in 2006 before Everbank took possession in 2011.
The location, which is situated on Newberry Road between the interstate and Tower Road, was also previously the Holiday Inn West and was considered as transitional housing for homeless veterans in 2011 before that plan was dropped in the midst of a lawsuit from a nearby business.
Keystone also sold the adjacent hotel property closest to the interstate to Danly Group of Delray Beach in 2009 before CB&M Funding of Hollywood foreclosed on it in June 2011. CB&M continues to own that hotel, which operates as Hotel Oaks.