LOVELAND — TownePlace Suites by Marriott is the latest addition to The Foundry in downtown Loveland.

Marriott’s entry marks the first business announcement for the downtown revitalization project, which will transform four acres between Lincoln and Cleveland avenues.

The 63,550-square-foot, four-story TownePlace Suites by Marriott will have 102 rooms and feature an indoor pool, fitness center, lounge and 1,000 square feet of meeting space.

The hotel will cater to business travelers and tourists, offering free wireless Internet access, a business center and pet-friendly accommodations.

The hotel portion of the project is being developed by Northern Colorado-based Brinkman and Colmena Group, a real estate development and investment company headquartered in Salt Lake City.

The hotel fills out The Foundry plan that includes a 460-space, five-level parking garage owned by the City of Loveland, a 35,000-square-foot public plaza for community events and a seven-screen, 625-seat first-run movie theater.

Two five-story buildings, Patina Flats at the Foundry, will front Cleveland and Lincoln avenues and offer 155 for-rent apartments and 15,000 square feet of commercial space.

The Foundry project is a public/private partnership that brings together the city of Loveland, Brinkman, the Loveland Downtown Partnership and investment partner Brue Baukol Capital Partners.

The $75 million project is the largest public-private real estate collaboration in Loveland’s history.

Formerly known as the “South Catalyst,” The Foundry aligns with the city’s vision for revitalizing the southern zone of the historic downtown district, propelling social and economic vitality throughout Loveland’s core.

Construction of TownePlace Suites by Marriott is anticipated to begin by the end of February with an expected completion date and opening in spring 2019.