AUSTIN, TX., November 1, 2015 –Lane Critchfield, Managing Director of Dakota Pacific Real Estate Partners (DPREP), a JR Miller Enterprises Company, announced today that they have completed negotiations and will be developing and operating a Marriott TownPlace Suites hotel, located in the Tech Ridge Center in Austin, TX.
The Marriott TownePlace Suites hotel is a 4‐story 122 room (67,000sf) limited service hotel located in the northeastern tech center of Austin, TX. “This hotel will fill the current market demand for a mid‐priced extended stay located near major manufacturers and technology companies,” said Critchfield. Tech Ridge Center is located 11 miles northeast of downtown Austin and is a highly trafficked office, retail, and restaurant area. Within this area are several large tech firms, which are in the process of or have recently completed building expansions. Those companies include Apple, Applied Materials, Dell, Flextronics, GM, IBM, National Instruments, and Samsung.
The development is in partnership with Bedford Lodging, led by Jeff Blackman along with a Texas based family investment office. The partnership was formed to strategically develop a hotel portfolio; several additional development opportunities are in the pipeline. Jeff has significant development, acquisition and operating experience serving in key executive positions in the hospitality industry. He has been involved in over 100 ground up hotel developments. “We are excited for this project because it is not only in a perfect location, but our hotel management and development teams’ are top notch—having extensive hotel experience and proven tract records,” said Jason Robbins, a principal at DPREP.
The Marriott TownPlace Suites is located at Tech Ridge Blvd. & W Canyon Ridge Dr., Austin, TX 75753