Plans are moving forward for the University of Mary Washington Foundation’s construction of a $14 million-plus select-service hotel in the second phase of the Eagle Village mixed-use development across U.S. 1 from the Fredericksburg campus of the University of Mary Washington. Construction is scheduled to begin in the spring of 2012.
The five-story hotel, to be located between Giant Food and the Eagle Village Executive Offices, will feature 93 studio rooms or suites, several meeting and conference rooms for public use, and a 24-hour food and beverage service for guests. The 66,500-square-foot facility also will include an indoor pool and a fitness center. In addition, the building will house approximately 1,600 square feet of retail space, possibly a day spa, according to Jeff Rountree, CEO of the UMW Foundation and President, Eagle Property Holdings, LLC.
Construction will begin when demolition of the shopping center north of Giant is complete. The hotel is expected to open by fall 2013. Currently, the Foundation is negotiating the franchise agreement for the hotel brand, which will be announced once the agreement is finalized in early May.
According to Rountree, the new hotel will generate annually more than $90,000 in new real estate taxes and $160,000 in new meals-tax revenues for the City of Fredericksburg. Approximately 55 full-time and 15 new part-time positions will be created.
Cardinal Bank, headquartered in McLean, Va., is handling financing for the hotel project.
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News release prepared by: Marty Morrison