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ANNAPOLIS, MD-Annapolis Technology Park–the $25 million mixed-use park featuring retail, office and residential sites–will soon become home to a Hilton Garden Inn. Developer Baywood Hotels Inc. has closed on the purchase of the last remaining developable parcel in the 29-acre park from owner St. John Properties Inc., the former MIE Properties Inc.

Baywood acquired the 2.3-acre plot in the southwest corner of the compound for an undisclosed amount. However, according to a 2004-2005 Maryland Department of Business & Economic Development statistical report on Anne Arundel County, the average cost for industrial land is $175,000 per-acre, while the cost of office land is $250,000 per-acre. Construction of the 126-room hotel is due to begin this fall.

“The site is well situated to amenities that guests would appreciate such as restaurants, banks, gas stations, pharmacy, copy services and other service-oriented businesses in the park,” Baywood vice president Chet Patel says. The hotel is scheduled for a fall 2006 completion.

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