Hotel will include 121 guest rooms, condominiums for sale and housing for employees
Eric Peterson, Project Manager
Domonique Cruz, Marketing Manager email@example.com
JACKSON, Wyo. — Work on a new SpringHill Suites by Marriott in the heart of idyllic Jackson Hole is underway. The new hotel, expected to open in the summer of 2016, will offer 121 guestrooms, a 3,000-square-foot restaurant, and other amenities, including flexible meeting space, a fitness center, and an outdoor pool and spa.
As part of the hotel, the development will include three two-bedroom apartments and one six-bedroom apartment that will house hotel employees. The project will also include nine for-sale condominiums complete with high-end finishes and views of nearby Snow King Resort.
PEG Development, Blue Diamond Capital, and Alex. Brown Realty are the principal partners on the project. Other key contributors include Carney Logan Burke and Big-D Signature, both from Jackson Hole, and Beecher Walker Architects of Salt Lake City. U.S. Bank has provided construction financing for the project.
Nearly 4 million people come to the area each year for world-class skiing, fishing, Grand Teton and Yellowstone National Parks, and other year-round attractions. The four-story hotel will improve walkability through the downtown Jackson area and within a few blocks guests can visit iconic Town Square and the many shops, restaurants and bars in the historic district.
To ensure the new building’s design fits the architectural style of the community, local design firm Carney Logan Burke was tasked with designing the exterior, which included using natural finishes to match the surrounding aesthetic and putting the parking underground.
“The design of the building’s exterior was a high priority for us and will really complement the mountain style and character of the town. The landscaping, improved sidewalks and patios will help the property blend into the surrounding neighborhood,” said Eric Peterson, Project Manager with PEG Development. “This hotel will definitely be a beautiful addition to the town.”
When undertaking this project, developers recognized the impact it would have on affordable housing in the Jackson Hole area. To help address that problem, project managers committed from the outset to provide more housing for employees than planning codes require.
“We are really excited for the chance to work with the town to bring a new hotel and residential space to the area,” Robert Schmidt, Vice President at PEG Development, said. “We’ve worked hard with designers and the community to develop a plan that will enhance the experience of living and visiting downtown Jackson Hole”.
“ABR is pleased to be participating in such a unique project,” said Tom Burton, ABR’s CIO. “PEG has the expertise to deliver a quality product that will have a positive impact on the town of Jackson Hole.”
About Alex. Brown Realty
Alex. Brown Realty (ABR) is a privately owned real estate investment manager organized in 1972 and headquartered in Baltimore, Maryland. ABR co-invests with joint venture partners in a broad spectrum of property types located throughout the United States. www.abrealty.com
About Blue Diamond Capital (BDC)
Blue Diamond Capital (BDC) is a family-office headquartered in Provo, Utah organized in 2007. Blue Diamond’s investment interests are diverse and include hospitality, multi-family, commercial, residential land, and private-equity investments primarily focused in the Intermountain West region of the United States.
About PEG Development
PEG Development, LLC (PEG) is a full-service commercial real estate development company based in Provo, Utah. Since its founding in 2003, PEG has developed an impressive portfolio of hospitality, multifamily, office, and retail properties throughout the Intermountain West. www.pegdevelopment.com.