OCEANSIDE, CA-R.D. Olson Development has been aggressively adding to its hotel holdings this year, with two projects already in the pipeline. The Irvine-based company will bring one more property to the marketplace, with its recent move into San Diego County.The firm has acquired a three-acre site near Ocean Ranch Boulevard and Ranch Del Oro Boulevard for $2.4 million. R.D. Olson will develop a four-story, 85,000-sf, 125-room Residence Inn by Marriott on the property. The site is in the middle of Ocean Ranch, an R&D, office, industrial and residential development.The firm will have ownership of the hotel, while Marriott International will operate the property. The Residence Inn by Marriott is Marriott International’s latest prototype, according to company officials. The hotel giant developed the prototype based on “customer research for the extended stay market.”"Southern California is a difficult market for hotel development. We have been fortunate to compete for sites and work [despite] rising construction costs,” says Robert Olson, president and CEO of R.D. Olson Development.As for the Oceanside project, Seattle-based Johnson Braund Design Group Inc. designed the project. It will include 87 studios, 22 one-bedroom and 16 two-bedroom suites. Also in the design are a pool, spa, sport court, meeting space and exercise room. Grading will begin in June 2006, with the hotel opening for business in summer of 2007.Last month, R.D. Olson announced another Southland hotel project, a $36-million, five-story, 166-room Marriott Residence Inn, located in Downtown Burbank, which will cater to the entertainment industry. Building costs for the 165,000 sf of new construction will total $19 million. Groundbreaking is scheduled for this month, with completion scheduled for April 2007.

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