Developer faces uphill fight in Clifton hotel bid
A developer is trying to lure a Holiday Inn Express to Clifton, but he faces an uphill climb in a tight economy.
Greg Motz, co-owner of 4-G Development, said he has all the building approvals he needs, except one access permit from the Colorado Department of Transportation, to start developing 16 acres of commercial land on the west side of the Interstate 70 Business Loop, just south of the Budweiser distribution facility. Motz said the cornerstone of the project will be a 70- to 80-room hotel.
The hotel would be the first of two phases for the project and is under contract, Motz said.
The hotel that his partners want to build is a Holiday Inn Express, he said. Want is the key word, though, as Motz and his financial partner, Coldwell Banker, are “struggling with financing,” he said. “Things have tightened up quite a bit.”
Motz said he remains confident ground will be broken later this year for the hotel and some retail elements of the project, known as Exit 37 because Clifton is Exit 37 off I-70.
“We are waiting on one more Colorado Department of Transportation access approval, and with that in hand ... we pretty much got it all done now,” Motz said. “It is now going to rest on the marketplace and sales.”
But the hotel market in the Grand Valley, the market for Holiday Inns especially, is oversaturated, said Heather Killian, general manager of the Holiday Inn Express at 625 Rae Lynn St. in Grand Junction.
“It is just a shock to me,” Killian said of Motz’s plans.
When asked whether there is enough room in the valley for a second Holiday Inn Express, she said: “Definitely no, because we are getting a full Holiday Inn” on Horizon Drive.
Motz said he realizes the hotel industry has been affected by the decline in the economy, but he believes it will rebound.
“Mainly what we think ought to go there is more highway-oriented services — hotels, restaurants, retail, something that needs the frontage and visibility,” Motz said.
As part of the development plan there will be a new signal light at F 1/4 Road and I-70 Business Loop, allowing easy access to the project.