|By Angela Lau, The San Diego
Union-TribuneMcClatchy-Tribune Regional News
Mar. 7, 2010--SAN MARCOS -- The stalled Marriott Residence Inn in San Marcos is nearing completion and is scheduled to open in August.
The four-story, 112-room hotel, at state Route 78 and Las Posas Road, will provide large studios and one- and two-bedroom suites, said Mike Gallen, director of development for South Carolina-based OTO Development.
The inn is expected to generate $200,000 each year in room taxes, City Councilman Hal Martin said,
OTO began construction in 2008, but ran out of money and stopped work that November.
Last year, OTO struck a deal with San Marcos by which the developer sold back to the city the 2.3-acre site it had bought for $4 million to $5 million and leased it for 55 years, Martin said. The city repurchased the land for about $5 million.
Construction resumed in November 2009, and the frame is completed. Workers will be installing drywall, stucco and the roof soon, Martin said.
The inn will provide meeting rooms, a pool and spa, a fitness center, a patio with a fire pit and a billiard room.
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