A Maryland-based investment firm planning a 122-room extended-stay hotel in Worcester has purchased the property for $1.4 million.
White Oak Enterprises, the parent company of Park Silver Development, purchased the site in a deal finalized on Friday, according to Worcester District Registry of Deeds records. Park Silver first revealed its plans to develop a four-story WoodSpring Suites hotel at the narrow site adjacent to the Worcester-Providence Turnpike in late 2024.
Park Silver Development was founded in 2019 and focuses on developing Woodspring-branded hotels, with three active hotels in Delaware, Florida, and North Carolina and two under development in Tewksbury, Massachusetts, and Washington state.
The company is the hotel development division of White Oak Enterprises, a family investment firm with offices in Maryland and Virginia. Other areas of focus for White Oak include investments in public companies and in private equity firms.
WoodSpring Suites is an extended-stay brand operated by Maryland-based Choice Hotels International with more than 260 locations in the country.
The project received site plan approvals from the Worcester Planning Board and signoffs from the Worcester Conservation Commission in July. No construction permits have been issued for the project yet, according to the City of Worcester.
White Oak purchased the site from Depot Associates, a Westborough-based entity managed by Gary Melia and Melvyn Glickman.
Construction of a new hotel in Worcester would help address what City Manager Eric Batista and Worcester Greater Chamber of Commerce President and CEO Timothy Murray have said is a shortage of hotel rooms in the city, which they say impacts its ability to attract large events.
The site had been pitched for a similar hotel project in 2008, according to the Worcester Telegram & Gazette, but that development never materialized.
The 2.56-acre plot of undeveloped land received a 2026 assessment of $351,600, according to City of Worcester property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
