140-unit Cambria Suites Hotel Coming to Downtown Rockville
By Adrian Maties, Associate Editor
Rockville Town Square, in downtown Rockville, has added an ice-skating rink, a public library, 180,000 square feet of shops, restaurants and a grocery store in recent years. And there’s still more to come. Work will soon start on a vibrant, mixed-use development that will replace a surface parking lot in the heart of Rockville Town Center, approximately eight miles outside of Washington, D.C. Montgomery County and Rockville officials announced their support for the project on Monday, Oct. 8.
Choice Hotels International and Reston, Va.-based Duball L.L.C. are working on the Rockville Town Center project. They plan to transform the surface parking lot in front of Regal Cinemas, at East Middle Lane and Monroe Street, into two mixed-use, high-rise towers with 485 multifamily homes, a 140-room Cambria Suites hotel, 40,000 square feet of street-level retail and approximately 1,000 parking spaces. To help jump-start the project, a $4.2 million conditional grant must be approved by the county council.
Work is expected to start on the first phase by the end of the year. It will include 223 apartments and 40 additional units earmarked as moderately priced dwelling units. The first phase will also include the 140-room Cambria Suites hotel and 17,000 square feet of street-level retail, plus public and private parking.
Rockville Mayor Phyllis Marcuccio thinks ”the hotel is a central component to this next, major mixed-use project in the downtown, and it, along with the new residential and retail development, will help boost our local economy and add another top-notch dimension to an already thriving town center.” She may just be right. Marcus & Millichap reports that room demand rose in the Northeastern United States in the first half of 2012, with the estimated year-to-date occupancy in the region reaching 62 percent.
“On weekends, downtown is thriving, thanks to the partnership between the city of Rockville, Montgomery County and the state of Maryland. Choice Hotels joined this transformation by building its headquarters here and now; with the addition of a new hotel, both Choice franchisees and visitors to the area will be able to stay in downtown Rockville,” said county council member Phil Andrews.
Photo credits: Duball L.L.C.
Charts courtesy of Marcus&Millichap.