Developers of a three-tier hotel, retail and residential development on the hillside north of West Osage Street hope to begin construction by June, according to Chad Neal, construction manager.
Orchid Development Group LLC, headquartered in the Cayman Islands, is developing Dogwood Plaza on a 25-acre parcel on Hogan Road.
The development will consist of a 170-room Best Western Premier Hotel that will be professionally managed by Maverick hotel and restaurant group from Chicago.
Approximately 30,000 square feet of commercial retail space will be visible from Interstate 44. Two stand-alone family restaurants are planned, with very recognizable national names, Neal said. There also will be a community dog park nearby.
The residential component will be known as the Villas at Swan Lake and will include a mix of single-family and multifamily homes that will have lakes and walking trails, Neal said.
Villa units will range from 1,200 square feet to 1,670 square feet, with the larger units containing three bedrooms, three baths and two-car garages.
The development firm is searching for three general contractors to construct each of the three segments.
Neal said architectural renderings of the villas are being drawn up and will be made available to the public in the coming weeks. He said Orchid Development is anxious to get started on the villas.
“We plan to construct the villas first and hope to get started there in early June,” Neal said.
Retail Space, Hotel
The second tier of construction will be 30,000 square feet of retail space. Neal said construction on the retail space will begin after the townhomes are under construction.
The final tier will be the 170-room hotel. Neal said he has a commitment from the Best Western brand to operate the hotel.
“We will start with the townhomes and the retail and get the hotel pad ready,” he said.
No firm commitments have been received to operate restaurants, but Neal said he’s in talks with several national chains to become part of the project.
He also is in talks with two real estate agents, who are familiar with the local market, to handle sales of the villas, and he is seeking a leasing agent to attract retailers for the retail stores.
The Dogwood Plaza project occupies a portion of an 80-acre parcel owned by Lamar Investments LLC. Neal said the Dogwood Plaza project is planned for growth and could eventually include the entire 80-acre site.
The developer wants the city to create a commercial improvement district (CID) to rebate a 1-cent special sales tax collected by retailers within the new plaza to help pay for infrastructure.
A CID consultant and spokesman for Orchid Development said over a 25-year period, the CID tax could generate $2 to $3 million to aid the development, which would accompany $5 to $6 million in new taxes for the city of Pacific.