A Sept. 18 groundbreaking is planned for a new Marriott SpringHill Suites hotel being built in Oceanside, according to a statement from developer GF Properties Group LLC.

The $40 million hotel, with 150 rooms, is being built at 110 N. Myers St., at the corner of Myers and Mission Avenue in downtown Oceanside.

GF Properties Group is a wholly owned subsidiary of the Southern Ute Indian Tribe, managing the tribe’s national investments and real estate developments. GF recently obtained a $25.1 million construction loan for the Oceanside project through US Bank, according to capital services firm Holliday Fenoglio Fowler LP, also known as HFF, which arranged the financing.

The hotel will be situated in a downtown development zone that Oceanside city officials have designated as Block 21.