You can add another name to the increasingly crowded list of proposed hotel developments in the area around Disneyland Resort in Anaheim.
Conceptual plans were filed with the city this month to build a 175-room hotel at 200 West Alro Way, a nearly 1.5-acre site that fronts the Santa Ana (I-5) Freeway near the intersection of Disney Way and Clementine Street.
The project would be the 10th hotel that’s been proposed but not yet broken ground in the 1,100-acre resort area in the past few years, according to city records.
Those projects, which include a recently unveiled plan for a third high-end Disney-branded hotel called 1401 Disneyland Drive, would total more than 4,000 rooms.
Another 856 rooms are under construction in Anaheim between four resort-area hotel projects, which will join six hotels totaling another 1,000 rooms that have opened since mid-2014, according to the latest city data.
A time frame for the Alro Way development hasn’t been disclosed. The property currently holds an industrial building that would make way for the project.
Details of the project, including the name of the hotel developer, have not yet been disclosed.
It’s unknown whether a developer has purchased the property; the site was listed for sale this month at an asking price of about $6.2 million, according to CoStar Group Inc. records.
It’s close to a 174-room Country Inn & Suites that’s under construction next to the freeway. That five-story project, headed by Spectrum Development Group LLC and RD Olson Construction, both in Irvine, is scheduled to open this year.
The site also sits across the street from a surface parking lot called the Pumbaa Lot that Disney uses for excess parking. Plans call for the land to make way for a multilevel, 6,800-stall parking structure that would be the second largest of those Disney operates in Anaheim.
The city has encouraged hotel construction in recent years, primarily through a tax subsidy program designed to entice developers of high-end hotels.
Broadcom Campus Slowdown
Broadcom Ltd. isn’t just looking to sell some of the offices it’s building near Orange County Great Park for a new campus; it also appears to be slowing the pace of construction there, based on recent executive statements.
The first phase of the chipmaker’s Irvine campus broke ground last year, with the expectation that the company would build and occupy the five-office, 1.1-million-square-foot campus for its own operations.
The plans have since changed amid acquisition-related job cuts at Broadcom, whose U.S. operations now are based in San Jose. In April the company listed for sale two of the new buildings at the campus, along with excess land. It paid about $156 million for the site in March 2015, factoring in land prices, taxes and other fees, after announcing in November 2014 that a deal was in place.
The campus’ construction will cost an estimated $390 million, according to trade publication ENR California, which ranks it as the ninth largest construction project to start in California last year.
Broadcom spent about $60 million in construction costs in the first quarter, company officials said in March.
That dropped to $45 million last quarter, Chief Financial Officer Tom Krause told analysts this month following Broadcom’s second-quarter earnings report.
Construction isn’t grinding to a complete halt, Krause said. The company’s capital expenditures will “run at an elevated level over the next several quarters, driven by campus construction” at the Irvine site and other company projects, he said.
The company, previously known as Broadcom Corp., completed its $37 billion sale to Avago Technologies Ltd. early this year, ending its 20-year history as a locally based company.
