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RANCHO BERNARDO, CA-Leddy Ventures Ltd., the San Antonio, TX-based developer, completes acquisition of a 1.6-acre site in Rancho Bernardo and will soon begin construction here on a new Hilton Garden Inn.

Slated for groundbreaking in early 2003, construction will be managed by Leddy Ventures, according to company officials. The hotel will consist of 200 rooms at build-out and will be managed by Presidian Destinations Ltd., an affiliate of Leddy Ventures.

The acquired site is the last remaining site zoned for hotel development in Rancho Bernardo, says a Leddy Ventures spokesperson. Cross parking easements secured as part of the transaction bring the total acreage owned or controlled up to 4.5 acres.

The proposed project marks Leddy’s first development in Southern California and according to CEO and president H. Drake Leddy, the company is “thrilled to start the new year off with a groundbreaking on a Hilton Garden Inn in San Diego.” He adds that a substantial growth in the office sector has upped the demand for hotel development in the Rancho Bernardo area. “We are very pleased that we were able to capture what may be the last opportunity to meet this unmet demand,” Leddy says.

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