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Bill Freehling is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Bill Freehling.

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New extended-stay hotel planned in Central Park

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A new extended-stay hotel is planned near the Lowe’s store in Fredericksburg’s Central Park shopping center.

Value Place — a national extended-stay lodging brand based in Wichita, Kan. – is planning a 124-room, 45,000-square-foot hotel at 1455 Carl D. Silver Parkway.

The city of Fredericksburg has approved the four-story hotel’s site plan, but no building permit has been issued yet.

Value Place will buy the 1.7-acre parcel by the end of November from an affiliate of the Silver Cos. for $750,000 and start construction soon after closing, said Silver executive Jud Honaker.  The site is located right off the southbound Interstate 95 off-ramp and will be accessed from the travel lane on the north end of the Lowe’s property.

Value Place has nearly 200 U.S. locations, including Virginia properties in the Manassas, Gainesville and Richmond areas.

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