Developer Begins $30M Marriott Project

BURBANK, CA-Developer R.D. Olson of Irvine has started construction of a 166-room Marriott Residence Inn in this city’s central core. Robert Olson, CEO and president of the Orange County development firm, cites the demand from nearby entertainment industry businesses as one of the factors in the development of the new Residence Inn.

The 1.7-acre development site on the corner of South First Street and Verdugo Avenue 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 property last year for $4 million.

Olson Construction will serve as the general contractor for the 165,000-sf project, with PK Architects of Phoenix as the designer. The five-story hotel will include four executive, 20-one-bedroom, 20 two-bedroom and 126 studio suites.

The new hotel site is at 321 First St., close to Downtown Burbank, where the city and private developers have focused much of their development efforts in recent years. Robert Olson, president and CEO of Olson, said when the project was announced previously that R.D. Olson Development will own the completed property under a separate entity and that Marriott International will manage the hotel.

The U-shaped hotel, which will border a pool and sports court, hotel will sit on a two-story underground parking lot. Completion scheduled for April 2007.

The R.D. Olson project joins a list of new developments in and around Downtown Burbank that include new restaurants, coffee houses, boutique shops, movie theaters, retail developments and mixed-use ventures including housing and other components. The new projects include public developments as well, like the new Metro Station that has been a catalyst for many of the private developments.