What's Hot

    Tucson Planning to Study Data Center Restrictions

    September 17, 2025

    Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan

    September 16, 2025

    Vestar Planning New Retail Mixed-Use in North Phoenix

    September 16, 2025
    Facebook Twitter Instagram
    AZBEX
    NEWS TICKER
    • [September 17, 2025] - Tucson Planning to Study Data Center Restrictions
    • [September 16, 2025] - Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan
    • [September 16, 2025] - Vestar Planning New Retail Mixed-Use in North Phoenix
    • [September 16, 2025] - Scottsdale to File Notice of Claim Over Axon Bill
    • [September 16, 2025] - Industry Professionals 09-16-25
    • [September 16, 2025] - Commercial Real Estate 09-16-25
    • [September 12, 2025] - Tempe DRC Recommends Approval for 72-Unit Live-Work Development
    • [September 12, 2025] - Input Prices Up 0.2% in August
    Facebook Twitter YouTube LinkedIn
    • Home
    • News
      1. View Latest
      2. ✎ Planning & Development
      3. 📰 Local News
      4. 🔎︎ Classifieds
      5. 🕵 Editorial Analysis
      6. 💰 Budgets & Funding
      7. 🏢 Commercial Real Estate
      8. 👔 People on the Move
      9. 🌵 Arizona Projects
      10. 🏛️ Legislation & Regulations
      11. 📈 Trends

      Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan

      September 16, 2025

      Vestar Planning New Retail Mixed-Use in North Phoenix

      September 16, 2025

      Tempe DRC Recommends Approval for 72-Unit Live-Work Development

      September 12, 2025

      Goodyear Seeking Developer for Ballpark Village Mixed-Use

      September 10, 2025

      Tucson Planning to Study Data Center Restrictions

      September 17, 2025

      Scottsdale to File Notice of Claim Over Axon Bill

      September 16, 2025

      HonorHealth to Build on Former Amkor Site in Vistancia

      September 2, 2025

      Buckeye City Council Discusses Annexing Land for Community Master Plan

      August 29, 2025

      Scottsdale Hospitals War May Heat Up with New Banner Request

      July 29, 2025

      Glendale Voters to Determine VAI Resort’s Fate

      May 16, 2025

      Legislation Would Effectively Strip NIMBYs of Referendum Tool

      February 11, 2025

      2025 Forecast Tries to Clarify an Uncertain Market

      February 7, 2025

      RTA Funding Proposal Stirs Controversy

      August 15, 2025

      Ariz. LIHTC to Sunset Under New Budget

      July 8, 2025

      State Government Shutdown Averted as Hobbs Signs Budget

      July 1, 2025

      Arterial Life Cycle Program Covers 20 Years of Street Development

      June 27, 2025

      Commercial Real Estate 09-16-25

      September 16, 2025

      Commercial Real Estate 09-09-25

      September 9, 2025

      Commercial Real Estate 09-02-25

      September 2, 2025

      Commercial Real Estate 08-26-25

      August 26, 2025

      Industry Professionals 09-16-25

      September 16, 2025

      Industry Professionals 09-09-25

      September 9, 2025

      Industry Professionals 09-02-25

      September 2, 2025

      Industry Professionals 08-26-25

      August 26, 2025

      Arizona Projects 09-12-25

      September 12, 2025

      Arizona Projects 09-05-25

      September 5, 2025

      Arizona Projects 08-29-25

      August 29, 2025

      Arizona Projects 08-22-25

      August 22, 2025

      Scottsdale to File Notice of Claim Over Axon Bill

      September 16, 2025

      Environmentalists Sue ADWR Over Benson-Area Developments

      September 2, 2025

      Pima County Latest to Amend Zoning for Data Centers

      August 22, 2025

      Tucson City Council Likely to Approve Water Restriction on Large

      August 19, 2025

      Input Prices Up 0.2% in August

      September 12, 2025

      Construction Employment Down for Third Straight Month

      September 9, 2025

      Construction Job Openings Up 77,000 YoY

      September 5, 2025

      Ariz. Construction Lost 400 Jobs in July

      August 19, 2025

      Tucson Planning to Study Data Center Restrictions

      September 17, 2025

      Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan

      September 16, 2025

      Vestar Planning New Retail Mixed-Use in North Phoenix

      September 16, 2025

      Scottsdale to File Notice of Claim Over Axon Bill

      September 16, 2025
    • AZBEX
      • Subscribe
      • Solicitations
      • Classifieds
      • Advertising
    • DATABEX
      • DATABEX Log-In
      • Webinars
      • Monthly Snapshot
    • Events
      • 2025 Hospitality LMS
      • 2025 Public Works Conference
    • About Us
      • Meet the Company
      • Meet the Sales Team
      • Meet the Editorial Team
      • Meet the BEXperts
    • CIP Special Report
    AZBEX
    Home » Planning & Development » Cottonwood OKs Land Sale for Hotel
    Planning & Development

    Cottonwood OKs Land Sale for Hotel

    BEX StaffBy BEX StaffFebruary 4, 2020No Comments2 Mins Read
    Credit: JournalAZ
    Share
    Facebook Twitter LinkedIn Pinterest Email

    By Jon Hecht for JournalAZ.com
    The Cottonwood City Council unanimously voted in favor of selling a 3.74- acre parcel of land at 535 S. Sixth Street, to Sunridge Properties Inc., a management company that has 17 hotels spread across Arizona, California, Colorado, New Mexico and Utah, for a price of $383,328.
    The sale is equal to $4/SF, based on a January 2018 appraisal.
    Sunridge requested to purchase the property with a plan to build a Springhill Suites by Marriott hotel at the location, with a plan for 85 beds. Sunridge expects to spend $11M to construct the new hotel.
    “Our thinking is that Cottonwood is a nice community,” Springfield CEO Paul Welker told the council at a recent meeting. “We feel like it would attract a lot of people who would not want to pay $3-, $4-, $500 sometimes when rates get crazy in Sedona. If they see something at a third of that, I think a lot of those people will elect to go 15 miles to Cottonwood and stay here, and I think that will benefit your community.”
    “I think it will benefit your stores, your restaurants, your gas stations, and that I think will be an added benefit to the community.”
    Springfield representatives told the council it estimated its annual gross revenues from the hotel at $3M once it got up and running, which would mean $210K yearly in additional sales tax and bed taxes, in addition to an estimated $185K in water and wastewater utility fees.
    Welker made the case that with Marriott claiming to have over 100 million rewards members world- wide, having a Marriott hotel in town will attract visitors to Cottonwood, rather than other nearby towns.
    The land that Sunridge plans to buy does not make up the entirety of the parcel owned by the city. Town Manager Ron Corbin suggested at the meeting that the remaining portion owned by Cottonwood is large enough for the city to later sell to another buyer in order to construct a restaurant with the requisite parking.
    Read more at JournalAZ.com.

    Cottonwood City Council Springhill Suites by Marriott Sunridge Properties Inc.
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email

    Related Posts

    Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan

    September 16, 2025

    Vestar Planning New Retail Mixed-Use in North Phoenix

    September 16, 2025

    Tempe DRC Recommends Approval for 72-Unit Live-Work Development

    September 12, 2025

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Our Picks

    Tucson Planning to Study Data Center Restrictions

    September 17, 2025

    Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan

    September 16, 2025

    Vestar Planning New Retail Mixed-Use in North Phoenix

    September 16, 2025

    Scottsdale to File Notice of Claim Over Axon Bill

    September 16, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn
    • YouTube
    Don't Miss
    Local News

    Tucson Planning to Study Data Center Restrictions

    September 17, 20250

    By Roland Murphy for AZBEX Coinciding with its rejection of a proposed annexation and development…

    Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan

    September 16, 2025

    Vestar Planning New Retail Mixed-Use in North Phoenix

    September 16, 2025

    Scottsdale to File Notice of Claim Over Axon Bill

    September 16, 2025

    BEX serves architecture, engineering and construction firms as well as all the ancillary product and service categories that market to them. These include manufacturing representatives, public agencies and private real estate organizations, specialty subcontractors and services providers related to our industry.

    Our Picks

    Tucson Planning to Study Data Center Restrictions

    September 17, 2025

    Goodyear P&Z Recommends Rezone for Estrella 14 Master Plan

    September 16, 2025

    Vestar Planning New Retail Mixed-Use in North Phoenix

    September 16, 2025
    Contact Us

    Phone: 480-709-4190
    Address: P.O. Box 12196 Tempe, AZ 85284
    Email: sales@azbex.com

    Type above and press Enter to search. Press Esc to cancel.