The master plan for the development of a hotel, restaurant and conference centre on 950 Old Princeton Way is complete.
Developer Mike Hatche received the go ahead, or “shovel ready” on a development permit from the District of Hope to begin construction on the new complex.
“Right now we're just negotiating the site,” Hatche told The Hope Standard.
The plan involves three separate stages, the first which includes a Best Western Plus (or a national brand hotel,) a conference centre and a restaurant on Lot 1.
According to Hatche, Lot 2 will include senior housing that will provide 41 and 43 units for 55 plus tenants with senior surface parking at the rear, separate from the hotel.
The hotel itself will have 100 units of suites, complete with a pool, and the convention centre is projected to hold 300 people with the restaurant providing seating for up to 150 people.
“It's going to be a flag hotel, a national brand hotel,” said Hatche
Lot 3 is slated as a commercial space with up to 20,000 square feet of retail space, one double 5000 square foot PAD (A pad site is a freestanding parcel of commercial real estate located in the front of a larger shopping center) drive thru and a gas bar, with one additional single 3,000 square foot PAD drive thru added at the entry.
“We could be building any time from tomorrow, or within the next six months,” he said. “We think sooner than that.”
Hatche is in the middle of negotiating all the mortgages, and if the deal goes through there will be a start date soon. The architect overseeing the project will be JKA, with Shelter Modular as the builder and Norm Wallace and associates slated for project management. The commercial lease will be handled by Cushman Wakefield.
The completion of the multi-use structure will be good for economic development and its arrival will help boost the local job market.
“There's going to be between 200 and 250 jobs created because of this project,” said Hatche.