HOUSTON--November 28, 2011--CDC Houston, Inc., a subsidiary of Coventry Development Corporation, New York, announced today the formation of a hotel development strategy that will serve both the planned $10 billion, 1,800-acre Springwoods Village mixed-use community and the 385-acre ExxonMobil campus currently under construction on Springwoods Village Parkway.
Preliminary market research results estimate four or more prime,
strategically customized hotel location sites will be available to
lodging developers. Lodging demand from Springwoods Village and the
ExxonMobil campus is anticipated by CDC Houston to be strong enough to
support the community’s own hotel sub-market.
Springwoods Village is located approximately 30 miles north of downtown
Houston just south of The Woodlands and located at the intersection of
I-45 and The Hardy Toll Road in north Harris County. With an expected
resident work force of 35,000 to 50,000 for the Springwoods Village
community, the demand for a variety of hotel products within the
development is apparent and has been master-planned with lodging
investors in mind. For example, hotel sites will strive for maximum
visibility, exposure and layout to capitalize on capture of transient
demand and increase economic feasibility for the lodging owner.
Working in partnership with CDC Houston, Inc. is HREC - Hospitality
Real Estate Counselors, the nation's premier lodging real estate
advisory organization. HREC is in the process of conducting an
extensive market research exercise on behalf of CDC Houston, Inc. that
will determine the best locations and feasibility of four different
lodging types under consideration for development on the Springwoods
Village property including luxury, upscale, mid-rate and extended-stay
hotels. The results of the survey will allow Springwoods Village’s
hotel developers the opportunity to build on prime site locations that
provide long-term, attractive hotel products for the area. Once the
research phase is completed in late-2011, a request for proposal will
be distributed to particular hotel developers that resonate most with
the lodging types applicable to the community’s needs.
“Our goal is to offer lodging amenities that complement the personal
and professional lifestyle demands of numerous guests planning to visit
Springwoods Village and the neighboring ExxonMobil campus,” said Keith
Simon, senior vice president and director of development for CDC
Houston, Inc. “Based on the results of HREC’s market research study, a
lodging development strategy will be executed that allows hotel
corporations the opportunity to bid on and build a presence within a
world-class master-planned development such as Springwoods Village.”
For more information on the hotel development strategy for Springwoods
Village, interested parties can contact HREC: Mike Cahill (email@example.com)
or Chris Stein (firstname.lastname@example.org
About CDC Houston, Inc.
CDC Houston, Inc. (a subsidiary of Coventry Development Corporation
(New York)) is an experienced land developer with expertise in creating
mixed-use urban communities that foster smart and responsible growth
for commercial and residential vitality. Coventry has provided
development services for mixed-use projects in New York, Colorado,
Texas and Guam over its 45-year history. In 2001, the company launched
RidgeGate, also a sustainable, mixed use community, in Lone Tree,
Colorado which consists of 3,500 acres. For more information on CDC
Houston, Inc.’s latest project, Springwoods Village, please visit: www.springwoodsvillage.com.