GRAPEVINE - The city could add another hotel to its inventory, increasing the number of available rooms by 300, after action last week by city leaders.
The Grapevine Planning & Zoning Commission and the City Council approved a plan to construct a hotel co-branded as a Courtyard by Marriott and TownePlace Suites. The combination hotel will be the first building in the long-delayed Silver Lakes Crossing development near the corner of Texas 26 and Bass Pro Drive."We hope to break ground in 60 days," said Mehul "Mike" Patel after the council vote. "We hope completion will be in 12 to 14 months." Patel is a principal with Irving-based Sagestar Hospitality and a partner with Grapevine Equity Partners, which owns the property.The six-story hotel will sit on 9 acres of a 13.5-acre lot and will include a restaurant with on-premise alcohol sales and an outdoor patio, according to the city staff report. There also will be 10,000 square feet of meeting space and a 1,000-square-foot pool.The Courtyard by Marriott will include 180 rooms and the TownePlace Suites will have 120 rooms. They will bring the number of hotels in Grapevine to 18 with the total number of rooms increasing to 5,397.While the Courtyard is a conventional hotel, Marriott's TownePlace Suites offers housing for a more extended stay.Grapevine Equity Partners of Irving and its affiliate, Newcrest Management, are expecting to put up the hotel, which will be owned and operated as a franchise by Apple REIT Ten of Richmond, Va.The Tarrant Appraisal District values the undeveloped land at almost $1.2 million.The Silver Lake Crossing development was first presented in 2009, according to Robert DeShay, director of real estate for Newcrest Management. Besides a hotel, the 52-acre project originally included restaurants, offices and houses.The project was scaled back to include restaurant and retail space and, possibly, an "entertainment venue," DeShay said.Have more to add? News tip? Tell us
