The developers currently building the Fairfield Inn & Suites at the Colorado Outdoors project on the north end of town have plans for a second hotel, across the street from the one being constructed now.
At a Montrose Urban Renewal Authority meeting on Wednesday, the developers described their plans for a 90-room “second high-end hotel.”
They hope to build a Hilton Home2 Suites or a similar brand. They hope to break ground by summer 2025, but told MURA board members on Wednesday they would like to see the Fairfield hotel, a Marriott product, be open for a year before beginning the next project.
The Fairfield project has already been delayed several months but is now just waiting on one final piece of the project — some elevator parts.
Jeff Lamont, of Lamont Companies (the company heading the project, told board members he would like to see the Fairfield property completed by March.
The hotel would come with 10 full-time jobs and 20 part-time jobs, according to material provided by the developers, and they have already picked a land parcel in The Colorado Outdoors, on the northern end.
Site improvements would cost around $2.25 million, a portion of which Lamont Companies will likely request from the Urban Renewal Authority as incentive to build.
The project cost is estimated at about $18.9 million and estimated by the developers to gross around $4.3 million.
Justin Tubbs is the Montrose Business Times editor. He can be reached by email at justin@montrosebusinesstimes.com or by phone at 970-765-0915 or mobile at 254-246-2260.
