Dallas-based Gatehouse Capital announced it has finalized agreements with the City of Decatur to develop a four-story, 107-room Fairfield Inn & Suites by Marriott on U.S. 380 in Decatur. The $13.8 million project broke ground today and is expected to be complete in late 2017.
“The City of Decatur has an existing civic center and, with the addition of this hotel, the project will transform the area to attract multi-day events and be a catalyst for more growth in the city,” said Marty Collins, CEO of Gatehouse Capital. “We have seen this model work in other markets. This is our third public-private partnership for hotel-conference centers this year in the state of Texas and we expect to do more in the future.”
In addition to Gatehouse Capital, the team includes Texas Western Hospitality as the hotel operator; BOKA Powell Architects; UEB as the builder; and Fairfield Suites by Marriott Inc. Construction will take approximately 12 months to complete.
Situated on 2.5 acres immediately adjacent to the City of Decatur’s Civic Center, the hotel will feature an outdoor pool, fitness center, business center, and will offer guests a complimentary breakfast.
This project is similar to others undertaken by Gatehouse Capital recently.
In January of this year, Gatehouse opened a 102-room Courtyard by Marriott Hotel and Conference Center in Midlothian in a partnership with the Midlothian Economic Development Council and the City of Midlothian. Last month Gatehouse announced a $72 million Marriott Hotel with a 67,500 square-foot conference center, a 323-space parking garage, a 27,000 square-foot plaza and plans to refurbish the historic Ector Theater in Odessa.
Founded in 1997, Gatehouse Capital is a national real estate investment and development firm that has launched major mixed-use lifestyle developments such as the W Hollywood Hotel and Residences and W Dallas Victory Hotel and Residences, as well as other hotels in the Hilton, Marriott and Starwood family of brands, totaling more than $1 billion in development.