MRA Group Breaks Ground for Marriott Residence Inn at Chestnut Run Campus

MRA Group Breaks Ground for Marriott Residence Inn at Chestnut Run Innovation & Science Park

A New Addition in Wilmington

MRA Group, a real estate development firm, has officially announced groundbreaking plans for a new Marriott Residence Inn located within the Chestnut Run Innovation & Science Park (CRISP) in Wilmington, Delaware. This milestone represents a key development in the park's ongoing transformation, contributing to its goal of becoming Delaware's foremost multi-tenant innovation hub. The new hotel will be developed in partnership with Gulf Creek Hotels, enhancing the CRISP campus with modern hospitality options.

Enhancing Community Amenities

The Residence Inn will feature a total of 127 guest rooms, catering to both short and long-term stays. In addition to accommodations, the hotel will provide a range of amenities including food service, a full-service bar, meeting spaces, and inviting outdoor patios. These features are designed to benefit not only CRISP tenants but also the larger Wilmington community, providing a convenient and vibrant place for visitors to stay.

Phil Butler, Executive Vice President and Partner at MRA, expressed enthusiasm for the project, stating, "The addition of the Residence Inn is not only an amenity that benefits the CRISP campus, it also serves as a viable hotel option for the broader Wilmington area."

This development marks the first hotel built in the area in almost three years, filling a significant void in local lodging options. With the rise in business and leisure travel, the Residence Inn aims to meet the needs of both business delegations and leisure tourists alike.

Integrated Facilities

The Residence Inn will complement a range of existing and anticipated campus features, such as childcare services, fitness centers, a bank, a restaurant, and outdoor recreational spaces. With on-site lodging, the campus will offer a seamless and integrated experience for those working, living, or visiting the area, allowing guests to collaborate effortlessly while enjoying the convenience of immediate access to various services.

Notably, MRA has demonstrated its commitment to sustainability through this project. Financing was secured with assistance from D2 Capital Advisors alongside key lenders including WSFS Bank and Nuveen Green Capital. This reinforces MRA’s dedication to implementing energy-efficient construction practices in the hotel’s development.

Looking Ahead

The official groundbreaking ceremony for the Residence Inn is set for early February 2025, kicking off what promises to be a significant enhancement to the Chestnut Run Innovation & Science Park. As Wilmington continues to evolve into a hub for innovation, MRA Group remains at the forefront, committed to delivering high-quality developments that inspire growth and collaboration within the community.

About MRA Group

Founded in 1991, MRA Group has established itself as a respected name in real estate development, particularly within the healthcare, higher education, and life sciences sectors. Based in Horsham, Pennsylvania, the company has developed and managed over 4.5 million square feet of real estate and facilitated more than $3 billion in financial transactions. MRA's reputation for integrity and excellence positions them as a leader in the mid-Atlantic region.

About Gulph Creek Hotels

Gulph Creek Hotels, founded in 1995, is known for its management and development expertise in the hotel sector across the Mid-Atlantic region. The company manages a diverse portfolio, including notable brands such as Hilton and Marriott, ensuring high-quality hospitality services.

Stay tuned as this project unfolds, promising to offer not just a place to stay, but a vibrant community space within the Chestnut Run Innovation & Science Park.