(RealShare Orange County convenes at the Hyatt Regency, Irvine, August 16.)
TUSTIN, CA-R.D. Olson Development has broken ground on the $60-million Tustin Pacific Center, a 196,000-square-foot mixed-use development at the 55 Freeway and Edinger Ave. here. The project will include a 149-room Residence Inn by Marriott and a 145-room Fairfield Inn & Suites by Marriott, as well as 16,180 square feet of retail space that will include a mix of restaurant and business-service retail users. Completion is expected in August 2013.
The two hotels are the first of each type to be built in the state. They are also the first to be built in Tustin in more than 15 years and will serve the demand for modern business lodging in the area, including the Santa Ana Civic Center, the Irvine Business Complex and John Wayne Airport. Olson purchased the 8.38-acre parcel from the City of Tustin in 2011.
The Residence Inn will feature the latest design iteration, Generation 9, and will be among the first of its kind throughout the country. The new design includes spacious studio, one-bedroom and two-bedroom guest suites, the latest in technology and connectivity, improved work areas, full kitchens and upscale bathrooms. The Fairfield Inn & Suites also represents the latest generation of this Marriott concept.
Both hotels will offer numerous guest amenities, including outdoor areas with pools, spas, fire pits and a sports court, exercise rooms, convenience markets, breakfast areas, business centers and a shared 2,950 square feet of meeting space. The retail center serving the hotels will include dining options, banks and business-service providers.
“Tustin Pacific Center is positioned to offer a quality lodging alternative for business and leisure travelers, backed by the latest generation of hospitality service offerings by Marriott International and a location central to Orange County and John Wayne Airport,” said Bob Olson, CEO and founder of R.D. Olson, in a prepared statement.
The development company will be opening its fourth hotel since last November in the next 30 days. Olson tells GlobeSt.com that this project is a 108-room Courtyard by Marriott in Goleta, CA, that will soft open August 23. Projects in the planning stages include a $38-million, 144-room Residence Inn in Pasadena, CA, on land Olson owns; and a $24-million, 140-room Residence Inn in Goleta.
R.D. Olson will retain ownership of the hotels upon completion, with Marriott International providing management services. The center was designed by Gene Fong Associates, with interior architecture by Johnson Brand Design Group, Inc. Construction will be performed by R.D. Olson Construction.
The Marriott brand is proliferating in Southern California this summer. As GlobeSt.com previously reported, in June American Life Inc. and Williams/Dame and Associates broke ground on a dual hotel project in the heart of downtown Los Angeles that encompasses a 174-room Courtyard by Marriott and a 218-room Residence Inn by Marriott, including 11,754 square feet of meeting facilities and 5,100 square feet of restaurant space. The 373,000-square-foot project is anticipated to cost $172 million.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
