Developer still plans to build eventually, when the money is
available
The developer of a proposed Fairfield Inn
&
amp; Suites Marriott Hotel in Hollister continues to keep the
plans on hold while awaiting the appropriate financing to get it
moving in the down economy.
Developer still plans to build eventually, when the money is available
The developer of a proposed Fairfield Inn & Suites Marriott Hotel in Hollister continues to keep the plans on hold while awaiting the appropriate financing to get it moving in the down economy.
Developer Prakash Patel and San Jose-based Lotus Management proposed the hotel for 390 Gateway Drive, behind the Tiffany Ford dealership. Plans for a site and architectural review were approved by the Hollister Planning Commission in February 2009, but the developer has not proceeded on obtaining the needed building permits for construction.
Under the current arrangement, Patel and Lotus Management would have had 18 months from the original approval – until sometime in July of this year – to request building permits. But Assistant Planner Abraham Prado noted how the company would be eligible to ask for an extension if it does not progress on the project by that deadline.
“It’s all on hold right now because of financing,” Patel said. “It all depends on when the banks want to give money.”
Lotus has had a presence in Hollister since 2001 when the planning commission approved drawings for a Holiday Inn Express, at the same location, which would have been 39,046 square feet. It was shelved due to the building moratorium that lasted from 2002 until 2008 after a 15-million gallon sewer spill at the wastewater plant.
The company’s plans for the Fairfield Inn & Suites Marriott Hotel call for 53,485 square feet in a four-story building with suites, a lounge, an exercise room and a swimming pool. They also include room for 81 off-street parking spaces around the building.
Patel pointed out how the firm continues to maintain plans to construct the hotel, but a timeline is unclear.
“We will do the project as soon as we get the finances,” he said.
Prado in the city planning department stressed how the company remains within the original time frame and he said Hollister staff members have periodically checked in on the status of the plans. The company has not indicated when it might come in for building permits.
“We’re hoping they eventually come in,” Prado said.
