WARWICK – A Miami-based property company known for building WoodSprings Suites hotels throughout the country recently bought two properties at the site of its planned 122-room development on Post Road near Rhode Island T.F. Green International Airport.
Gold Coast Premier Properties Group purchased the 1.7-acre property at 2245 Post Road, where it plans to build the hotel, and the adjacent 2.2-acre property at 2267 Post Road from New England Institute of Technology. The Miami company bought the properties from the technical university, which has a nearby campus, for $2.4 million each.
Gold Coast Premier Properties Group is in the process of developing more than 20 extended-stay hotels that have discounted weekly and monthly rates in Rhode Island, Florida, South Carolina, North Carolina, Connecticut and California. Those 20 hotels include WoodSpring Suites by Choice Hotels, as part of a chain that was known as Value Place hotels prior to 2015, and Extended Stay America-branded hotels. The extended-stay hotel proposed in Warwick includes rooms with in-suite kitchens with two-burner cooktops, large sinks, counters, cupboards, refrigerators and freezers, along with laundry facilities and free Wi-Fi.
Gold Coast Premier Properties Group, which was formed in 2015 and is led by Raul R. Garcia, did not immediately respond to calls and an email requesting comment.
The four-story hotel proposed by Gold Coast at the Post Road site received master plan approval from the Warwick Planning Board last year. The planned hotel will be located at the site of the former Great House Restaurant on Post Road, next to Chelo’s, just east of Interstate 95 and T.F. Green Airport Connector Road.
This comes after news last year that the former Sheraton Providence Airport Hotel property at 1850 Post Road will be redeveloped by GoodHomes Co. LLC. in a more than $15 million proposal to transform the building into 151 studio apartments and 30 one-bedroom units.
The 2245 Post Road site has been owned by New England Institute of Technology since 1998, when it bought the site from Observers Inc. for $1.65 million. The property, which last operated as the Post Road Airport Valet, with a small building and a canopy on the site, was most recently valued by city assessors in 2021 to be worth $972,500.
The 2267 Post Road site has long been owned by New England Institute of Technology, with 95,000 square feet of paved asphalt, and was last valued by city assessors in 2021 to be worth $1.2 million.
Gold Coast Premier Properties said on its website that the estimated construction time for the WoodSpring Suites hotel will be in the fourth quarter of 2022.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
