Franklin-based Chartwell Hospitality plans to break ground this summer on a 123-room Courtyard by Marriott in the Bedford Commons district in Green Hills.

The three-story hotel will carry a price tag of about $23 million and will sit at 38 Bedford Ave. next to the Freeman Webb Building. Chartwell paid about $3 million for the site.

Memphis-based McMurry Construction will handle the general contractor role. Bounds and Gillespie Architects, also based in Memphis, is designing the hotel, which will feature a brick and limestone exterior, and a rooftop pool and garden. A 14-month construction timetable is expected.

“The building will be very upscale,” said Robert Schaedle, Chartwell Hospitality co-founder.

Two freestanding homes sit on the site and will be demolished in a few weeks, Schaedle said.

Chartwell will also develop a 200-room Hilton Garden Inn at 419 Third Ave. S. in SoBro. Work on that project is slated to begin by year’s end.

Within Nashville’s urban core, in December 2010, Chartwell bought the Vanderbilt-area Hampton Inn & Suites on Elliston and the Hampton Inn on West End Avenue for a combined $37 million.