Woodbine Development Corporation and InterMountain Management have announced the purchase of a 3.25-acre site in the Springwoods Village community in Spring for a future Residence Inn.

The 128-room extended-stay hotel is scheduled to open in the summer of 2015 and is in the design phase, according to a news release. It will be the first of three select-service hotels Woodbine will develop for the community, which is anchored by the Exxon Mobil campus. Woodbine will also develop a full-service hotel for Springwoods Village's Town Center.

The Residence Inn is the third project developed by Woodbine and IMM since the companies began working together in 2012.

"Since teaming with IMM two years ago, we've discovered incredible synergies for the projects we've taken on together," said King Scovell, Woodbine's vice president of development. "We're glad to be involved in Springwoods Village's evolution into a vibrant, mixed-use hub, where these hotels will play an important role in the community."

The hotel will serve the Exxon Mobil campus, which is under construction and scheduled for completion in 2015. The campus is located on 386 acres within Springwoods Village, a $10 billion, 18-acre mixed-use community developed by the Coventry Development Corporation. The community will feature housing, civic facilities, outdoor recreation and a 60-acre Town Center with office space, shopping, dining and lodging.

"With several planned hotels, Springwoods Village will help stimulate a new hotel submarket to accommodate the needs of the rapidly expanding employment center in the north Harris County," said Keith Simon, executive vice president of CDC Houston. "The development of Residence Inn is the first step in our strategy to provide a range of hotel products at different price points within walking distance of work centers."