Gold Bear Ventures and Ursus Aureus, two investment subsidiaries of Kutztown University Foundation, and Wohlsen Construction recently broke ground on the 100-room Hampton Inn and Suites in Kutztown, Berks County.
The 64,000-square-foot, 100-room location is the first nationally branded hotel in the area. It will feature a fitness room, two conference rooms, and an indoor pool.
It is located on the site of the former Campus Inn, a half-mile from Kutztown University’s campus, and will serve visitors to the university and business travelers as well as tourists. Ursus Aureus owns the property.
The lack of a hotel in the area limited the university’s ability to host large events.
The foundation plans to use the property’s profit to fund scholarships and support the university.
“The university foundations play a key role in enabling universities to deliver excellent education that prepares our students for productive and fulfilling careers and lives. And many times, it’s just that stop-gap last few dollars that is the difference between a student completing that dream or not, and that is something we want to make sure happens like this at every university,” Cynthia Shapira, State System of Higher Education Board of Governors chairwoman, said. “This really exemplifies the best of what a foundation can be.”
The project is expected to be completed next summer.