Jefferson Technology Park Hotel
In additional to the lifestyle live-work qualities of this community, Jefferson Technology Park will include an upscale, select service hotel to further enhance the amenities afforded to its residents and businesses alike.
To validate this vision, the developers commissioned a comprehensive market study to evaluate the feasibility of a proposed hotel within the JTP Mixed-Use development. This extensive review of the economic and demographic area included an analysis of the economic climate on a local and regional level in addition to the examination the City of Frederick and Frederick County’s existing employment distribution, tourism trends, commercial infrastructure, and transportation networks. The study also reviewed future development projects and assessed the subject hotel’s ability to attract new demand to the area within the components of the Jefferson Tech Park Development.
Given its location proximate to Washington, DC, Baltimore, Fort Detrick and the northern end of the I-270 Technology Corridor, Frederick is emerging as a leading national location for the bioscience, information technology, and advanced manufacturing industries. Benefitting from federal contract prospects and collaborative opportunities with the NCI/SAIC-F and other research conducted on Fort Detrick, there are now over 60 bioscience companies located in Frederick. There are also over 120 technology companies that enjoy access to a high quality fiber optic infrastructure and highly skilled workforce. Additionally, Frederick has a strong professional services industry specifically in the healthcare, finance, and insurance sectors.
Tourism also has a significant impact on the area’s economy. Downtown Frederick, with its variety of shopping, dining, and entertainment, located within a 40 block historic district, is the region’s main destination. Furthermore, Frederick is centrally located to several historic Civil War sites including Gettysburg, Harpers Ferry, Monocacy Battlefield, and Antietam. Many visitors also come to see the Barbara Fritchie House and the National Museum of Civil War Medicine.
Favorably, the report confirmed that a select service 140-room, such as a Hyatt Place with all the standard facilities and amenities in addition to 3,000 – 5,000 square feet of meeting/conference would be a successful addition to the project. The hotel would have the capacity of catering to business and social events for over 200 guests. It’s location with the JTP development will be in the heart of the central business district and with high visibility to and direct access highway 340 and the new bridge. Guest will enjoy the additional community amenities of the parks, greens, pedestrian networks with pathways and sidewalks, a community center, and other streetscape amenities.
The hotel is expected open on January 1, 2016.
For further information or a copy of the feasibility study, please contact: Brad Kline 703-615-2244.
COPYRIGHT © 2013 JEFFERSON PARK DEVELOPMENT, LLC