City Council Approves Agreement for First Hotel in Norwalk
Media Contact for City of Norwalk:
Tai Lieu, Marketing and Communications Specialist
TLieu@Norwalk.Iowa.Gov
(515)-201-6185
FOR IMMEDIATE RELEASE
THURSDAY, June 15, 2023
City Council Approves Agreement for First Hotel in Norwalk
- Fairfield Inn & Suites by Marriott
- Approx. 44,000 square feet
- 79 rooms, 4 stories
- Opening planned for summer 2024
NORWALK, IOWA, June 15, 2023 —The Norwalk City Council approved a development agreement with Compounding Capital Holdings for the first hotel project to take place in Norwalk. A four-story Fairfield Inn & Suites will be built in the new Norwalk Central development and help to serve the needs of thousands of new travelers and visitors to the Gregg Young Sports Campus at Norwalk Central.
Ryan Jensen of Compounding Capital Holdings stated, “My partner Ted Oswald and I are thrilled to expand our hotel presence in central Iowa with this Marriott Fairfield Inn & Suites in Norwalk. Growing up in Warren County (Indianola), I spent a lot of time in Norwalk. It means a lot to me to develop a project that will have a substantial and long-lived economic impact in the county I grew up in. The hotel will feature four floors and 79 guest rooms & suites, a bar dubbed the Lynn Leigh Lounge, and an outdoor pool/patio. This landmark Norwalk hotel aims to be the standard of hospitality in the community. This new hotel represents our commitment to purpose-driven development and unwavering commitment to excellence as it will be the place to stay in Norwalk. The hotel is slated for completion summer of 2024.”
The City spent more than five years planning the 70+ acre mixed-use development in the heart of Norwalk in partnership with Diligent Development, SportsPlex USA, and Heartland Sports. Once completed in the summer of 2024, the development will draw visitors from all over the Midwest for the high-tech turf sports campus, and the various new shopping, dining, and entertainment opportunities.
“We have worked hard for many years to bring the right businesses and amenities to Norwalk. We’re so thrilled to have such a fantastic hotel brand choose our community and serve a very long overdue need for our citizens and visitors. The Fairfield Inn & Suites by Marriott will be located next to the City’s future public park, near a new Starbucks and the recently opened turf sports campus, the Fareway Fields at Norwalk Central. Exciting times for this community!” City Economic Development Director, Hollie Zajicek.
Mayor Tom Phillips commented, “Norwalk continues to attract high-quality businesses, and we feel blessed to have such wonderful development groups in our city. This hotel will be a beacon in Norwalk Central and the perfect addition to the many other amenities being built over the next few years.”
For more information about the developer or this project contact Ryan Jensen at ryan@compoundingcapital.holdings.
For more information about other commercial projects in Norwalk or details about the Norwalk Central development, contact the City of Norwalk Economic Development Director, Hollie Zajicek- HollieZ@Norwalk.Iowa.Gov. NorwalkCentral.com