Henrico-based hotelier Sandpiper Hospitality has taken the next step in bringing a new hotel brand to town.
The firm last week paid $2.25 million for an undeveloped 3.5-acre plot at 9940 Independence Park Drive near the Interstate 64-Gaskins Road interchange, where it will build the region’s first Echo hotel.
Echo is a new extended-stay brand from lodging giant Wyndham Hotels & Resorts. Sandpiper is one of two companies signed on by Wyndham earlier this year to develop 50 Echo hotels around the U.S.
Headquartered in the West End off Glen Forest Drive, Sandpiper specializes in developing and managing extended-stay hotels. Its portfolio includes more than 50 hotels nationwide, the bulk of which fly the flags of WoodSpring Suites and Extended Stay America. Locally, its holdings include a pair of WoodSpring Suites hotels on West Broad Street and in Colonial Heights.
The land deal at Independence Park closed Oct. 11 and follows the company’s filing of plans for the Echo project with Henrico County earlier this summer. The property was most recently assessed at $676,000. Sandpiper bought the property from an LLC that had owned it since at least 2007, when it paid $113,000 for the site.
The planned four-story hotel would have 124 rooms and 133 parking spaces. It would rise between the Independence Park office complex and the SpringHill Suites by Marriott Richmond Northwest.
Sandpiper executives did not respond to requests for comment about the project.
Echo is the second new-to-market hotel concept in the works in the Richmond area. Locally based Kalyan Hospitality is planning the region’s first Element hotel at 11768 W. Broad St. in Short Pump.
Element is an extended-stay brand from Marriott.