Finance & DevelopmentGatehouse Capital Announces $72 Million Development

Gatehouse Capital Announces $72 Million Development

DALLAS—Dallas-based Gatehouse Capital announced it has finalized agreements with the City of Odessa and Eofficial Enterprises to develop a seven-story, 219-room Marriott Hotel with a 67,500 square-foot conference center, a 323-space parking garage, a 27,000-square-foot plaza, and plans to refurbish the historic Ector Theater, originally built in 1951.

“There’s a legitimate, under-served market in secondary cites where hotel and conference development can be catalytic,” said Marty Collins, CEO of Gatehouse Capital. “This development will be an engine for dynamic growth in downtown Odessa and the broader community.”

Founded in 1997, Gatehouse Capital is a national real estate investment and development firm that has launched major mixed-use lifestyle developments such as the W Hollywood Hotel and Residences and W Dallas Victory Hotel and Residences, as well as other hotels in the Hilton, Marriott and Starwood family of brands totaling more than $1 billion in development.

“In addition to our core national lifestyle business, our company has also created more local opportunities in special niche, public private partnerships for hotels and conference centers,” explains Collins. “We’re very interested in putting together partnerships that will have sustaining value for a community. Our projects change the landscape in the community because they are brand and relationship-driven. We expect this project to create jobs and generate over twice its cost in direct and indirect benefit for the city with solid economic returns for the private partners at Eofficial Enterprises.”

The Gatehouse team includes: general contractor UEB Builders, architect RTKL, hotel operator Aimbridge Hospitality, hotel brand Marriott Hotels and Resorts, and structural engineer DCI.

Construction is expected to begin in March 2017 and is expected to take approximately 18 months.

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