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Kratsa Buys Land for 98-Room, $11M Hotel

MOUNT LEBANON, PA-The Pittsburgh-based hotel company pays $450,000 for a parking lot on Washington Road for construction of a SpringHill Suites by Marriott.

By Marita Thomas | Updated on September 17, 2007

MOUNT LEBANON, PA-Pittsburgh-based Kratsa Properties has acquired the parking lot in the 600 block of Washington Road for construction of a 98-room SpringHill Suites by Marriott Hotel. Groundbreaking is scheduled for late spring or early summer 2008, with the opening 12 months later.

David Cocco, VP of hotel operations for Kratsa, tells GlobeSt.com it acquired the land, “only about 0.4 acres,” from the Mount Lebanon Parking Authority for $450,000. Marriott approved the project on Sept. 13, he says. The ballpark construction cost is about $9 million, according to Cocco, and the all-in cost, including scraping the parcel and construction of underground hotel parking, is estimated at $11 million.

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