In The News
Luxury Hotel Project in Old Town Temecula Moves Forward
TEMECULA, CA — A 185-room luxury boutique hotel in Old Town Temecula is a step closer to opening its doors thanks to $34 million in financing announced Wednesday.
The Truax Hotel, which is part of Marriott’s Autograph Collection, is slated for construction on 1.75 acres of unimproved land along 3rd Street, from Mercedes to Front streets.
Twain Financial Provides $34mm to Temecula Resort
ST. LOUIS, Jan. 29, 2020 /PRNewswire/ — Twain Financial Partners provided $34 million in Property Assessed Clean Energy (PACE) Financing to the development of a luxury boutique hotel and parking structure located in the Old Town neighborhood at the heart of Temecula, CA. The Temecula Valley attracts over three million tourists annually and is known for its 40+ wineries, golf courses, nature trails and preserves, breweries/distilleries, shopping and dining.
The project, currently 1.75 acres of unimproved land, will be transformed into a 185-room Autograph Collection hotel. Once completed, the hotel will feature over 189,000 square feet of meeting space, a ballroom, wedding venue, destination restaurants and bars, rooftop terrace, outdoor pool and retail space. Construction is scheduled to begin in early 2020 and expected to complete by September 2021.
Truax Hotel breaks ground in Old Town Temecula
Bernie Truax had the look of a man both relieved and excited to be embarking on construction of the $135 million Truax Hotel that will be located on the southern end of Old Town Temecula when it opens sometime in the year 2021.
After addressing a crowd of about 100 friends, family, partners and dignitaries during the hotel groundbreaking celebration event Friday, Aug. 16, he reflected on the speech he gave about how long it has taken to get to the point of starting construction on the project.