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DC Partners Secures Loan for Palm Springs Hotels
If you can believe the stats, building a hotel in the Palm Beaches makes sense. 9.48 million visitors came to the Palm Beaches in 2023, a 2.5% increase from the prior year. That has led to more demand for hotel rooms.
The S. Florida Business Journal reports DC Partners is moving forward with what would seem like a low-risk venture. Equity Bank provided the financing to DC Partners so it can build a dual-branded hotel in Palm Springs. The construction loan amounted to $13.3 million. It covers the 4.6-acre site at 2645 10th Ave. North. The hotel developer acquired the property for $5 million in July.
WoodSpring Suites will consist of 48,660 square feet with 122 rooms, while the Everhome Suites would total 57,971 square feet with 114 rooms. These extended-stay hotels would have kitchens in the rooms and guest laundry facilities along with fitness centers. There would also be a pool.
101 Architecture designed the project.
- ◦Development
- ◦Financing
