New Hotel Coming Near Fairgrounds
Construction is expected to begin soon on a 124-room, four-story Value Place hotel on the west side of Preston Highway just north of Gate 6 to the Kentucky Exposition Center.
A variance to allow parking in a required setback area was approved recently for the extended-stay facility by the Louisville Metro Board of Zoning Adjustment.
No other major approvals are required, and construction should be ready to proceed shortly, said Ann Richard, a Louisville consulting planner on the project for the hotel developer, TGC Development Group of Wichita, Kan.
The Preston Highway project would be the fifth in the Louisville area for Value Place. Its other hotels are off Interstate 65 in Clarksville, Ind.; on Kentucky Mills Drive near Interstate 64 and Blankenbaker Parkway in Jeffersontown; near the Gene Snyder Freeway and New Cut Road; and on Brookridge Village Boulevard at Bardstown Road and the Gene Snyder.
Value Place has its headquarters in Wichita and was founded in 2003 by Jack DeBoer — who also was the founder of the Residence Inn, Summerfield Suites and Candlewood Suites brands. He is widely credited as developing the concept of the extended-stay hotel.
The first Value Place opened in October 2003 in Wichita. As of early 2015, there were Value Place properties in more than 30 states — 84 company-owned sites and 111 operated as franchises. In April the company renamed the brand WoodSpring Suites.
The Value Place promotions say it keeps its rates affordable by keeping its overhead costs low, with each site usually having only four or five employees.
Plans for the Preston Highway property filed with the Louisville Department of Planning & Design Services show the site with four levels and 45,500 square feet of space. As do nearly all of the Value Place properties, the project is to have four levels and 124 rooms. It also has 124 parking spaces.
Reporter Sheldon S. Shafer can be reached at (502) 582-7089. Follow him on Twitter at @sheldonshafer.