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BURBANK, CA-R.D. Olson Development of Irvine has opened the doors to its $37-million, 166-suite Burbank Marriott Residence Inn. The property, which Olson will continue to own through an affiliate, occupies a 1.7-acre site at 321 First St., on the corner of South First Street and Verdugo Avenue.

Marriott International will manage the hotel, which is within walking distance of Burbank City Hall and close to a number of entertainment industry companies, including the Walt Disney Co., Warner Bros, NBC, DreamWorks SKG and Nickelodeon studios. Olson bought the development site for $4 million in 2005.

Olson developed the five-story hotel to meet what president and CEO Robert Olson describes as the demand from nearby entertainment industry businesses, among others. Burbank city officials and private developers have focused on new projects in the city’s downtown core in recent years.

The revitalization of the city’s core has produced a spate of developments, including new restaurants, coffee houses, boutique shops, movie theaters, retail developments and mixed-use ventures. The new projects include public developments as well, like the new Metro Station that has been a catalyst for many of the private projects.

Olson developed the Residence Inn through Olson Construction, which served as the general contractor, with PK Architects of Phoenix as the designer. British artist Peter Fink, a principal of Art2Architecture London Ltd., worked with PK Architects, interior designer Leo A Daly of Dallas and Entertainment Lighting Services of Sun Valley to create a lighting display of changing colors that is wrapped around all four sides of the hotel exterior.

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