According to the Las Vegas Review Journal, site work is underway at DG Development Corp.'s new project, a six-story, 150 room Hampton Inn & Suites / Home2 Suites hotel that will be followed up with an apartment complex. The 2.5-acre, $55 million project is slated to be finished by March 2020 and open for business the following month. The site is located near the convention center which is getting a $1.4 billion expansion and renovation. DG Development is helmed by Daniel Grimm.
Grimm said Home2 Suites offers extended-stay accommodations, including kitchenettes, that could draw guests who stay three or four days before and after a convention to set up and break down booths. The Hampton Inn, he said, would target conventioneers and others who need a room for just a few days. “That’s the theory,” he said.
Dallas-based Hall Structured Finance issued a $41.7 million construction loan for the hotel last week, spokeswoman Ellen Burger said. Grimm said that when the hotel opens, he aims to break ground one to two months later on a 300-unit apartment complex next door. He figured it would take two years to build the 6-acre, $60 million rental project.Read More