Powers Boulevard, Woodmen Road boom continues with new hotel in northeast Colorado Springs
The Powers Boulevard corridor is getting another new hotel, this time at the busy intersection of Powers and Woodmen Road in northeast Colorado Springs.
A four-story Staybridge Suites is planned southwest of Powers and Woodmen by the Jarosz Family Limited Partnership, a Colorado Springs hotel ownership and development group. The 96-unit, all-suites hotel would be built on nearly 3 acres just east of the Powers AutoPark.
The Jarosz family paid $1.65 million last month to purchase the site from Nor’wood Development Group, the Colorado Springs real estate company, El Paso County land records show. Nor’wood has been developing about 50 acres southwest of Powers and Woodmen with a variety of uses over the past several years.
The Staybridge Suites would join the Resort Lifestyle Communities apartment complex for seniors that’s under construction on the land being developed by Nor’wood. Other projects already completed and open on the property: the Estate at Woodmen Ridge apartment complex, an Ent Credit Union branch, a Kum & Go convenience store, a Sonic Drive-In and a Christian Brothers Automotive store.
Ted Jarosz Jr., chief financial officer for the partnership that’s composed of himself and his father, said via email that the Springs’ east side needs more extended-stay hotels. The Powers and Woodmen site was attractive because of its proximity to the St. Francis Medical Center to the east and UCHealth Memorial Hospital North and the new Children’s Hospital Colorado to the north. In addition to the Resort Lifestyle Communities, the site also is near two more retirement communities, he added.
Likewise, the time is right to build, Jarosz added.
Staybridge targets extended-stay travelers and is considered an “upscale” brand, Jarosz said. All rooms will have full kitchens, while the hotel will offer free breakfast, free internet, no-cost washers and dryers, a fitness center, an indoor pool and outdoor hot tub. An outdoor courtyard will have grills and a fire pit, and the hotel will offer a free shuttle to the three area hospitals, the First & Main Town Center retail complex and the Promenade Shops at Briargate, Jarosz said.
The project, with a construction cost of about $10 million, is expected to break ground in April and open in May 2020, Jarosz said. The family partnership also remodeled a downtown office building into a Holiday Inn Express & Suites in 2014 and recently sold the downtown Clarion Hotel and Quality Suites for $7.8 million, land records show. Jarosz said he’s reinvesting those proceeds into the Staybridge project.