The proposed property would be built at the corner of Lyons Road and Coconut Creek Parkway.
In 2015, Woodspring announced a multi-year plan to expand its presence in South Florida after it opened a hotel in Lake Worth. The company now has properties in Davie, Deerfield Beach and Miami. Choice Hotels International acquired Woodspring Suites this year for $231 million.
The property will be the second new extended stay hotel in Coconut Creek if it goes ahead. Earlier this year, Miami-based Morlin Hospitality Group and its partner Butters Construction and Development got a $15.5 million loan to finance the development of a six-storey, 105-room Residence Inn by Marriott at 5730 North State Road 7.