Now let's get started
Contact us today to learn how we can help you
get one step closer to bringing your vision to life.
Five-story Ogletown Road hotel to break ground next month
Featured in Newark Post:
A local developer will break ground next month on a five-story Marriott SpringHill Suites hotel on Ogletown Road, officials announced Tuesday.
“We’re looking forward to getting started,” George Danneman, president of Danneman Hospitality, LLC, said in a statement. He added that he hopes the hotel will open by April 2018.
This week, Danneman secured a $14.7 million construction loan from Dallas-based Hall Structured Finance.
“The planned hotel’s location in the heart of Newark, within one mile of the University of Delaware, is just one of the many reasons we were initially attracted to this deal,” Mike Jaynes, president of HALL Structured Finance, said in a statement.
The hotel, to be built at the corner of Ogletown Road and Library Avenue, was first announced a year ago and was approved by city council in May. Construction was originally scheduled to begin last summer but was delayed pending final approvals from the Delaware Department of Transportation, Danneman said.
The 125-room hotel will feature an indoor pool, fitness center, market and business library. Seven of the units will be two-room suites. The 2.3-acre site will also contain a standalone restaurant, the tenant for which has not been announced.
The land, which sits next to the Aetna Hose, Hook and Ladder Company fire station and across from the U.S. Post Office, has been owned by Danneman’s family since 1976, when his grandfather moved his Dannemann’s Fabrics store there. (Before that, the site was home to an A & P grocery store and, at one point, an auto repair shop.)
After Dannemann’s Fabrics closed in the late 1990s, the family leased the property to Newark Toyota World, which moved to Cleveland Avenue in 2014. Since then, Danneman said, he has been trying to decide how to develop the property and recently settled on the hotel plan.
View full story here.
Demolition of the current building will begin within the next two weeks, according to city of Newark officials.
Meanwhile, the six-story, 101-room Candlewood Suites hotel on South College Avenue was issued a temporary certificate of occupancy to allow for staff training. It is expected to open later this month.