By Jon Peterson
Redwood City has approved its first hotel development in more than 10 years with the city giving the go ahead for the development of the One Marina Hotel project located at 650 Bair Island Road in Redwood City.
“I think it has been 10 to 12 years since the last hotel development was approved in Redwood City. I think that there is a need for more hotel rooms in our city. This is certainly the case when you consider all of the development in downtown Redwood City for office buildings and residential and activity happening on the east side of 101,” says Curtis Williams the interim planning manager for the City of Redwood City.
There are plans for downtown Redwood City to have 2,500 residential units and 500,000 square feet of office space added to the market in the future.
Williams doesn’t know what the cost of the One Marina Hotel development will be. He does see a community benefit to the project. “I think that this project will mean a revenue boost for our city once the project is completed and running. The actual amount of revenue I can’t be sure of,” he said.
The developer of the hotel is OTO Development based in Spartanburg, S.C. The company declined to comment on this project until the public comment period on the approved development runs out on June 19th. Williams said there were no public comments made at the planning commission meeting earlier this month.
The development will be for 177 rooms and around 5,000 square feet of either conference or retail space. It will be a five-story property. “I would think this project would be started sometime this fall and be completed in early 2016,” said Williams.
The flag on the hotel has not been determined at this time. “There has been some talk by the developer that the hotel might be a Courtyard by Marriott or a Hilton product. Nothing has been finalized on this now,” said Williams.
OTO Development had an option to buy the 2.83 acres for the project from the land owner, Denver-based The Pauls Corporation. This option was contingent on the project being approved.
OTO has one other hotel project in the San Francisco Bay Area, according to its Web site. It’s now under construction on the 171-room Hilton Garden Inn in Palo Alto off of El Camino Real. The property has a projected opening for the third quarter of this year. The developer manages 51 hotels from coast to coast.