The Fairfield by Marriott hotel within Colorado Outdoors is expected to break ground in the next few weeks, according to an update from Mayfly Outdoors Founder David Dragoo.
It’s possible the groundbreaking occurs before the end of August, Dragoo added.
Jeff Lamont, CEO of Lamont Companies, could not be immediately reached for comment. Lamont’s team will be the owner, developer and operator of the Fairfield by Marriott Hotel within Colorado Outdoors.
Amenities for the hotel are expected to include an indoor fitness center and pool. Floor plans feature one and two bedroom suites as well as studios.
The project is the latest to gain traction towards construction as part of the overall Colorado Outdoors project. Lamont and his team pulled their foundation permit earlier this summer with eyes to break ground on the project this fall.
Colorado Yurt broke ground on its 30,000-square foot manufacturing and office space building within Colorado Outdoors last month, and Wedge Brands is expected to break ground sometime in 2021.
City Manager Bill Bell said last week, during a Montrose Urban Renewal Authority (MURA) meeting, Lamont and his group emailed the MURA team earlier this month notifying them about the desire to pivot from a conventional to modular construction model (modular construction means building certain sections of the building and delivering it to the job site later, in modular sections). This is usually done to favor timeliness and quality of the project.
The first level, however, is expected to be built traditionally, Dragoo said, with individual rooms built on-site (at a contracting facility) and later delivered to the project site where staged placement can be used to create the upper levels of the hotel.
“I think they’re (LaMont) strategy is speedy versus cost because costs have been so high,” Dragoo said during the meeting.
Commodity prices have forced developers and project leaders to adjust plans or absorb costs with effects from the pandemic exacerbating supply shortages, leading to price increases. Supply and demand has also been a significant factor.
It’s already been a prominent development impacting the cost to complete tenant site improvements for the Flex Buildings within Colorado Outdoors.
According to Kendall Cramer, the city’s community program manager and designated main street manager who provided updated financial figures during the meeting (Cramer was also seeking approval to apply for a Colorado Community Revitalization Grant grant from the Colorado Office of Economic Development and International Trade to cover increased costs), tenant site improvement costs have increased 149% (totaling a difference of a little more than $2.3 million) since 2020.
Material costs have jumped to $70.29 per square foot, up from $28.19 (the increased figure, though, is based on an average following two bids provided to Colorado Outdoors).
Dragoo also provided an update on the Flex Buildings. At least 10 businesses have signed a lease to occupy space within the Flex Buildings. Some include owners seeking a business headquarters, office space and manufacturing (soft goods). One is a restaurant that offers dine-in service.
There’s a prospect list of potential businesses that could move into a space, one of which could be an early childhood education center, which has been mentioned as a need in the community by city council.
A few businesses who have signed a lease could make announcements in the next few weeks, Dragoo said.
MURA’s TIF expenditures for horizontal site improvements for the hotel, as of September 2020, total $600,000.
Josue Perez is a staff writer for the Montrose Daily Press