Developer Greens Group says the 120-room hotel would generate more than $500,000 a year in transient occupancy tax alone
By Brian Whitehead | firstname.lastname@example.org | San Bernardino Sun
Published: August 31, 2019 at 9:00 am | Updated: August 31, 2019 at 4:56 pm
A $25 million Home2 Suites by Hilton is planned for San Bernardino’s entertainment corridor, and while the approval process still is in its infancy, Greens Group, the Irvine-based developer behind several sleek new hotels in downtown Riverside and elsewhere in the region, anticipates breaking ground in June 2020.
Planned for a vacant lot near the California Highway Patrol office on East Brier Drive in the Hospitality Lane commercial corridor, the 120-room hotel would generate more than $500,000 a year in transient occupancy tax alone, said Atman Kadakia, Greens’ managing principal.
Additional fiscal benefits, including property and utility taxes, would generate another $250,000 annually for the cash-strapped city, Kadakia said.
The Home2 Suites by Hilton would be Greens’ first hotel in San Bernardino.
Should the developer remain on schedule, construction would conclude in December 2021, Kadakia said.
“We like the fact the site is near restaurants, as well as its proximity to the freeway, proximity to major demand drivers like the Loma Linda Medical Center and downtown San Bernardino,” Kadakia added. “We’re excited about the market, about the opportunity. We believe it’s a great fit and will be an asset for the city of San Bernardino.”
As Greens navigates the design and entitlement phases, Kadakia expects to formally submit plans to the city’s Development Review Committee within the next month. From there, the project would go to the Planning Commission and the City Council for approval.
The planned Home2 Suites would offer travelers an affordable extended-stay alternative to some of the upscale hotels in the area, Kadakia said.
“What I like about this project is (Greens) is expanding opportunities beyond Hospitality Lane,” said Mayor John Valdivia, who represented the area before being elected mayor last year. “It’s a burgeoning new opportunity for the Hospitality corridor. … This means more jobs, more opportunities, more tax revenue.
“We welcome (Greens) with open arms.”
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