LOS ANGELES—R.D. Olson Development has partnered with Joseph Martelli Real Estate Investments has broken ground on a Residence Inn by Marriott Goleta. The developers are partnering with R.D. Olson sister company R.D. Olson Construction to build the 118-room hotel. Located near Santa Barbara in Silicon Beach South, Goleta has a robust business sector, driven by engineering, software and aerospace industries, according to the developer, making it a perfect site for a hotel development.
“Goleta is a hot bed for engineering, software and aerospace firms due to its quality of life, strategic central coast location adjacent to Santa Barbara, and close proximity to Vandenberg Air Force Base where we will see more private launches take place in the future,” Bob Olson, CEO and founder of R.D. Olson Development, tells GlobeSt.com. “In addition, the University of California Santa Barbara campus located nearby continues to attract world class students and professors and we feel it will continue to be a major driver for visitation to the area. We look to meet the strongest need in market with our new developments and felt upscale extended stay was the gap here.”
The three-story property sits on 3.8 acres on Robin Hill Road and South La Patera Lane in Goleta, and is 80,000 square feet. It features studio, one- and two-bedroom suites, some with full kitchens. This room mix will allow both short-term leisure guests and business travelers to utilize the property. Additionally, there will be 1,300 square feet of meeting space and an outdoor pool and spa, landscaped patio
with a fire pit, large fitness center with CrossFit style equipment, a business center and a guest laundry.
The extended-stay property will target both business and leisure travelers in the market. “We have tried to perfect a timeless design for this hotel that pays homage to the rich culture and history of the area and we have incorporated a meditation and display garden to pay respect to the original inhabitants of this land the Chumash Indian Tribe,” adds Olson. “We want this hotel to age with grace and be a relevant and functional property 50 years from now. This hotel will also have great amenities including a resort style backyard pool and spa, putting green, and a giant chessboard in the lawn for anyone to enjoy.”
R.D. Olson has broken ground on the project and aims to deliver it to the market in late 2017. This is a long-term investment for the firm. “We built it with the expectation that we will own it forever,” says Olson. “We spent a lot of time in the details trying to get everything just right and we are excited to see the community and visitors experience the hotel. One of the payoffs for all of the hard work getting a hotel developed is seeing customers use it. We can’t wait to open this beautiful hotel in the second half of 2017.”