Extended stay hotel company Value Place Development LLC will invest $65 million in metro Atlanta over the next two years to develop 10 hotels.
The first is a 124-unit hotel slated for the Interstate 85 corridor at Chamblee Tucker Road. It could break ground as early as January. Value Place Development is seeking additional land for construction, generally 2-acre sites in major transportation corridors with a strong concentration of corporate jobs.
Value Place considered dozens of U.S. markets in which to develop, and chose five including Atlanta because of improved job growth.?State Farm Insurance Co.?sexpansion is just one of the projects Value Place President?David Redfern?cited.
State Farm is developing a major Southeast employment hub in Dunwoody.
Value Place was founded by extended-stay pioneer?Jack DeBoer, who also launched?Residence Inn,?Summerfield Suites?and?Candlewood Suites. Value Place has 185 extended stay hotels operating in 32 states, including one just north of Atlanta in Alpharetta.