An ancillary of Coventry Development, CDC Houston, New York, has declared the creation of a hotel development plan that will cater to the needs of the designed $10 billion mixed-use community, Springwoods Village of 1,800 A and the 385 A ExxonMobil campus that is presently being built on Springwoods Village Parkway.
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Advantageously modified hotel location sites of four or more will be offered to lodging providers as estimated by the preliminary market results. CDC Houston expects a strong demand for lodging from the ExxonMobil campus and Springwoods Village, which will be sufficient to sustain the community’s hotel sub-market.
Springwoods Village is situated 30 mi to the northern side of downtown Houston that is to the southern side of The Woodlands and placed at the junction of The Hardy Toll Road and I-45 located in north Harris County. With an estimated local labor of 35,000 to 50,000 for the Springwoods Village community, the requirement for an array of hotel products within the development is visible and has been planned with hotel investors in mind.
Hospitality Real Estate Counselors (HREC), a real estate lodging consultation firm, is partnering with CDC Houston. HREC is in the course of carrying out a widespread market research for CDC Houston, which will decide the finest places and the viability of four diverse lodging types that will be considered for the development on the Springwoods Village property together with extended-stay hotels, upscale, luxury, and mid-rate hotels. Springwoods Village’s hotel developers will have the chance to build on key site locations that offer lasting desirable hotel products for the area from the survey results. A request for a plan will be given to specific hotel developers that echo most with the housing types relevant to the community’s needs after the research phase is completed in late-2011.
Source: http://www.springwoodsvillage.com