A long-discussed addition for Spire Institute and Academy is expected to become a reality in the next couple years.
Spire's new owners told Crain's on Wednesday, July 8, that the group hopes to break ground later this year on an 89-unit TownePlace Suites hotel on the campus of the 177-acre property in Geneva.
Blue Ocean president and CEO Jonathan Ehrenfeld said the Baltimore-based property management company is in the final stages of securing financing for the project. Spire hopes to debut the Marriott-branded hotel in the first quarter of 2022.
Axxella, an investment firm that was established to build on the work of Blue Ocean, purchased Spire from Ashtabula-area businessman Ron Clutter in December. The purchase price, according to a source, was in the $9 million to $11 million range.
The groups have been busy since.
In May, Spire was rebranded as Spire IA. The new owners changed the logo, revamped the institute's website and launched a brand campaign.
Spire also is adding a 22,000-square-foot academic center that will include classrooms, science and innovation labs, an esports suite, a student lounge with workstations and administrative offices. Five houses, each with a capacity of 12 students, plus a house parent suite, are being built across from the aquatics center.
Those additions will support Spire Academy, a high school and postgraduate institution that is a crucial part of Axxella's expansion plan for the complex. The academy is collaborating with the Museum of Future Sports on esports and drone/robotic/artificial intelligence/emerging technology programs that are joining basketball, swimming and track and field in the Spire stable.
Within the next two years, the amenities are expected to include a new TownePlace Suites that will offer extended-stay lodging and feature full kitchens, hot breakfasts, free Wi-Fi and other perks, Spire said.
"Having a hotel on the Spire campus will greatly benefit students, their families, traveling athletes and the surrounding community," Ehrenfeld said in a statement released to Crain's. "We are pleased to expand the Spire campus in this way and bring even more opportunity to the region as a whole."
Blue Ocean will work with three Northeast Ohio companies on the project.
JCI Contractors of Ashtabula will be the general contractor and will team with Renew Partners LLC, a Chardon-based real estate development and management firm, on the hotel development. Emerald Hospitality Associates Inc., a Westlake hotel management and development company, is Spire's hotel partner.
Blue Ocean, the master developer of the huge campus, said all of the enhancements will improve Spire's "core sports training and education offerings, and widen its academy, club, league, clinic, event and tournament activities."
Spire, which opened in 2009, hosts large events in track and field, swimming and diving, volleyball and wrestling. Its camp business, which in 2020 included boot camps for esports and drone racing, also is a key revenue driver for the new ownership group.
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Spire hopes to break ground on Marriott-branded TownePlace Suites later this year - Crain's Cleveland Business
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