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Value Place Resumes Construction on Hotel

'Squeaky clean' chain finds new financing after first bank was closed by the FDIC.

Contractors are heading back to the unfinished hotel on McFarland Road off GA 400 exit 12 to get the Value Place hotel open as early as June 1.

David Redfern, president of Value Place Management Services, said a problem with the local bank delayed the project. The FDIC and the state closed the bank, and it took time to unravel the financing and find a new bank.

“Due the FDIC taking over the original local bank, construction was stalled. We have since obtained new financing from Equity Bank and construction resumed on Feb. 1,” said Value Place President and COO Kyle Rogg.

Pat Cook Construction Inc. has been selected as the general contractor to complete the property.

Redfern said the hotel construction resumed around Feb. 1.

"We have 175 Value Places all newly built. This will be the 176th one," he said.

Redfern said the company took advantage of the delay, by working in some upgrades in the property, including wood floors instead of carpet in many places.

He plans to be on site on Wednesday.

Value Place has several mantras that he said works well for the chain. The staff strives for the best customer service. And when they make mistakes, mechanisms are in place to make it right.

"We are kind of clean freaks around here," he said.

Every time someone checks out of a room, Redfern said everything is cleaned in the room, including the shower curtain and the comforter on the bed.

"We shampoo the carpets when people check out to make sure it stays clean," he said.

They also work to make sure everything is safe and secure, which he said is not a problem in Alpharetta.

"But we have a lot of things that make people feel more safe," he said.

This is the first Value Place hotel in metro Atlanta. The next closest hotels are in Macon, August and Birmingham, AL.

Each Value Place property offers three room plans: a studio, studio sleeper and studio double. Services included in the weekly rate include a full kitchen with towels and linens, expanded cable network including a premium movie channel and bi-weekly studio cleaning. Additional cleaning and linen service, Internet access, dishes and other kitchen supplies are available for a nominal fee. There is onsite laundry and vending.

"People tend to stay with us longer periods of time. We work on things that they like that's more like home," he said.

"We wanted to be near and on the 400 corridor," he said. "Just one exit to the south of us [Windward Parkway] is a lot of commercial business that we wanted to draw from."

But that exit is almost built out. Building one exit to the north in Forsyth County, where growth will continue, was the choice for the site.

"Alpharetta was a very targeted market for us because it was a lot of our customer types" and types of businesses," Redfern said.

The GA 400 corridor is where most of the focus. At the other Value Place hotels, Redfern said they get a lot of people staying who visit family nearby.

The business customer who stays at Value Place tends to be a small business owner coming in to work the area around the hotel who has clients nearby.

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