An 11-story Hilton Garden Inn slated for SoBro will base its marketing efforts, in part, on panoramic views and visibility, according to the proposed hotel’s developer.
As first reported in the Nashville Business Journal, Franklin-based Chartwell Hospitality plans to break ground by the end of the year on the $38 million, 200-room hotel.
Robert Schaedle, Chartwell president and co-founder, said the company has long wanted to be in the downtown market and sees the site — bordered by Korean Veterans Boulevard on the north, Peabody Street on the South, Almond Street on the west and Third Avenue on the east — as prime. The site offers significant elevation in relation to KVB, which will yield striking views for guests. It is also near the fast-changing Rolling Mill Hill, on which Chartwell sister company SWH Residential Partners hopes to break ground by March 2013 on a five-story unnamed rental residential building. Lastly, the Hilton (see below for the updated rendering on top and a previous iteration on the bottom) will instantly become one of the most signficant buildings on the now-basically-barren south side of KVB once it opens.
“That is one of the selling points,” Schaedle said of the site.
Chartwell will build the hotel, the address for which will be 419 Third Ave. S., on an approximately 1.5-acre two-parcel site. The company has paid $3 million for a 0.95-acre site, and will close in August on the purchase of the parcel on which a nondescript warehouse sits. The site once had been planned for a condominium high-rise.
Memphis-based Bounds and Gillespie Architects is designing the hotel, with McMurry Construction, also based in Memphis, to handle the general contractor role.
Relatedly, Chartwell 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.
Chartwell Hospitality and SWH Residential Partners have made local headlines the past few years.
In January, SWH Residential Partners sold Rolling Mill Hill residential buildings housing 72 units for $11.4 million to Des Moines, Iowa-based Principal Real Estate Partners. Chartwell, which had previously merged with SWH Residential and converted the condos to apartments, turning over management of Rolling Mill Hill to Ram Partners in November 2011.
In December 2010, Chartwell bought the Vanderbilt-area Hampton Inn & Suites on Elliston and the Hampton Inn on West End Avenue for a combined $36.5 million.
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