WINDSOR – A Tennessee-based hotel developer has closed on the purchase of land where the company plans to build three hotels on the western edge of Windsor.
Kana Hotel Group paid Martin Lind’s Eagle Crossing Windsor LLC just shy of $1.3 million for the property, which sits along the north side of Crossroad Boulevard, just to the east of North Fairgrounds Avenue.
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Kana plans to break ground on the first phase of the project, a 96-room SpringHill Suites, in the first quarter of 2017, with that hotel slated to open by March 2018. The second phase is to include two hotels in one building that would include shared meeting space and other amenities. Those two hotels, for which brands are still being finalized, would total 206 guest rooms.
The SpringHill Suites is planned for a 2.93-acre parcel, with the other hotels slated for an adjacent 3.84-acre parcel.
Officials for Kana couldn’t be reached for comment on Monday.
The city of Windsor earlier this year approved a $2.47 million package of incentives for the $45 million project. Those incentives come in the form of fee waivers, reimbursements for building permit-related fees, and a 10-year sales-tax share-back agreement. The full value of the incentive deal is tied to both phases being completed.
Kana’s project is just east of the Larimer County Fairgrounds and the site of the Brands at the Ranch mixed-use development that Lind and other partners are planning on the Loveland side of the cities’ shared border. Windsor director of economic development Stacy Johnson said the hotels not only add to accommodations available in Windsor but also to events held at the fairgrounds.
“We’re excited from that standpoint,” Johnson said. “It’s our foray into a higher-level (hotel) market. It’s also going to tie in nicely to what we already have in the area.”