Phelps Development

Escondido Hotel and Parking Structure    Escondido, CA

Escondido Hotel

Project Description:

The City of Escondido, California selected Phelps Development and C.W. Clark, Inc. as the turnkey developer for this downtown redevelopment project.

The project will consist of a new seven-story, 198-room full-service Marriott Hotel, the renovation of an existing 25,000 SF City Conference Center, a 680-car parking structure and 142 condo units. In this unique partnership, the City will contribute $6,000,000 to the project and pay a portion of the cost for the new underground parking structure. The new hotel will be built on a site adjacent to the California Center for the Arts (a 12-acre arts complex that consists of two performance venues, art and dance studios and a 25,000 SF Conference Center). The hotel structure will have one level of underground parking dedicated to the Hotel patrons.

Project Team:

Developer: Phelps Development / C.W. Clark, Inc.
Contractor: Hensel Phelps Construction Co.

Project Cost:

Project Value: $104,000,000

Financing Structure:

Conventional financing with city subsidy.