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What’s Being Built Behind Residence Inn at Eastwood?
NILES, Ohio -- A spokesman for the Cafaro Co. would not confirm that a building taking shape at its Eastwood Mall Complex would house the new headquarters for the commercial real estate developer. Nor would he say what the building would instead house.
Construction of the building, behind fencing and near the newly opened Residence Inn by Marriott, created logistical concerns that pushed back construction of a banquet center that will be attached to the Eastwood Mall and the Residence Inn, said Joe Bell. Bell is director of corporate communications for the Cafaro Co., now headquartered in Youngstown and owner of the Eastwood Mall.
“There is construction going on. I can’t confirm that it indeed is what we’re talking about but we should have an announcement about the corporate headquarters in the definitive sense very soon,” Bell responded when asked about the developer’s planned move.
The banquet center will open in 2015, probably later in the year, he added.
Last October the Cafaro Co. confirmed it would move its headquarters from Youngstown “within 24 months,” Bell said at the time (READ STORY).
The confirmation followed the company filing for a demolition permit with the city of Niles to raze a portion of the mall that is unused and close to where the new Residence Inn was then under development.
"It's to prep for two scenarios," Bell said Oct. 13. One is to demolish a portion of the large mall and expand a banquet center now under construction and add professional offices. "Another would be a three-story office building for us. The planning for that is still in process."
Bell spoke with reporters Thursday when he visited the Residence Inn following a ribbon cutting at the 103-room extended-stay property, which opened May 29.
TMI Hospitality of Fargo, N.D., operates the hotel.
“We’ve been really busy right out of the gate,” said its general manager, Brian Necastro. “Occupancy has been roughly 90% through July, and August has done really well.”
“It’s blown away all our projections,” affirmed Dave Mangus, area director for TMI Hospitality. “It opened up with a bang and it’s kept going day after day.” TMI had projected occupancy at up to 60% for the early months, he said.
Business travelers make up some 70% of traffic on the property, he reported, including bookings by area hospitals and “quite a bit of business” from General Motors.
“There was a lack of an extended stay hotel in Trumbull County. It was definitely needed as we see now that we’re open,” Necastro said. The hotel still has some guests there who checked in opening night.
Mall and hotel officials said guests are taking advantage of the access to shopping, restaurants, entertainment and other amenities the mall footprint affords.
“The guests love it. I just checked in a woman out today who had not been to the area and came specifically to do shopping,” Necastro said. “The business guests love it as well.”
“It’s been a wonderful addition to the property. It’s really brought a lot to us,” agreed Matt Boarts, property manager for the Eastwood Mall Complex. “We’ve talked to a number of different tenants here on the property and, yes, they are getting benefits from having the hotel here.”
Pictured: Construction workers atop a multi-story structure under construction at the Eastwood Mall Complex. The purpose or future occupant of the building has not been disclosed.
Copyright 2014 The Business Journal, Youngstown, Ohio.
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