State Greenlights $115M Hotel at the University of Maryland
- Aug 07, 2014
Now that the State of Maryland has given its approval, the University of Maryland will soon offer a different type of class–a four-star hotel at its campus in College Park, Md. Southern Management Corp. is behind the development of The Hotel at the University of Maryland, which will cost $115 million to realize.
In addition to offering 295 upscale guestrooms, The Hotel, sited on three acres just across from the campus’s main entrance, will serve as a conference center destination, with 43,000 square feet of flexible meeting space. The goal of the development is not simply lodging for lodging’s sake; the University believes the hotel will help attract more students, meetings and businesses to the College Park area, and serve as a catalyst for the strategic development of the downtown district and the Route 1 corridor.
“College Park and the University of Maryland have had the need and demand for a hotel and conference center of this scale and quality for quite some time,” David H. Hillman, chairman and CEO of Southern Management, noted in a prepared statement. “My hope is that this project will give developers the confidence to design and build additional hotels and amenities in this corridor,” said Hillman.
The Hotel will also feature 750 covered parking spaces and two full-service restaurants. Southern Management expects to break ground on the project in spring 2015.