The industry was decimated by the pandemic but “it has come roaring back in the last six weeks,” the new owner of Prop Shop Party Rentals said, and he needed more labor.
Delaware Business Now
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Driftwood Capital, a commercial real estate investment, development and lending platform specializing in hospitality, announced that it has begun construction on the $31 million conversion of an 11-story office building into a brand new Staybridge Suites hotel in downtown Wilmington, Delaware. The property, which will consist of 134 suite-style rooms, is expected to open to the public in the second quarter of 2022.
The project team includes Whiting-Turner Contractor Co. and Dever Architects. Driftwood Hospitality Management (DHM), a national hotel operator with over 20 years of experience, will manage the property. The Delaware State Housing Authority will contribute up to $1,020,000 towards the project through its Downtown Development Districts Rebate Program.
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A Florida-based developer has started converting a downtown Wilmington office building into a Staybridge Suites hotel, the developer announced last week.
Driftwood Capital purchased the 11-story office building at 1220 N. Market St. for $2.9 million in March 2019. Driftwood will spend $31 million to renovate it into a hotel with 134 suite-style rooms and a contemporary look and feel, according to a press release.
They expect the hotel to open in the second quarter of 2022.
In a statement, Nelson Parker of Driftwood Capital said the project is appealing because the conversion will take a relatively short amount of time and it will fill a hole in the hotel market in downtown Wilmington as new businesses and jobs take root. The building also lies in an opportunity zone, which provide developers with lucrative tax breaks for building in disinvested communities.
Driftwood Capital has kicked off the $31 million conversion of an 11-story office building into a new Staybridge Suites hotel in downtown Wilmington, Del.
Magnetic pole reversal indicated in 42,000 year old tree rings may have triggered global environmental change
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CBC Radio ·
Posted: Feb 19, 2021 4:15 PM ET | Last Updated: February 19
Tree rings from the ancient Kauri tree in New Zealand showed a spike in radioactive carbon indicative of a magnetic pole reversal(Nelson Parker) comments
Quirks and Quarks8:01When the magnetic poles flip out, Earth seems to suffer
The Earth s magnetic poles have flipped many times in our planet s history - and while we know this is an important geophysical event, we haven t had any good evidence to indicate whether it s an important biological event.