WICHITA, Kan.—Value Place has entered into an agreement with Minnesota-based United Development Solutions for the immediate development of three Value Place hotels in the greater Minneapolis market. The first three Value Place properties will be developed in Fridley, Burnsville, and Mendota Heights, Minn. United Development Solutions and Value Place will work to develop the full potential of the market with the possibility of building six or seven additional properties within the next 36 months.
United Development Solutions has a strong focus on commercial real estate development. The company has developed numerous hotel and mixed-use projects in a five-state area surrounding Minnesota.
“Value Place has a proven track record of opening hotels, as well as the experience and expertise to help us meet our aggressive development goals for metro Minneapolis,” says Troy Hoekstra, partner of United Development Solutions. “Adding an extended-stay lodging concept to our portfolio was the perfect complement to our current assets, while at the same time maintaining our targeted return on investment for our partners.”
“We are excited about the progress we have seen with our strategy to increase brand awareness and grow in major markets,” said Bruce Haase, CEO of Value Place. “We have entered two major metro markets in two weeks, and we are experiencing some very positive momentum.”
