The project will be developed by Spectrum Properties and is scheduled to be completed October 2017. The hotel will be managed by Kimpton Hotels, which was acquired by Intercontinental Hotels Group in 2015.
CHARLOTTE, N.C. – Cornerstone Real Estate Advisers, one of the largest global real estate investment managers, acting on behalf of an institutional client, and Spectrum Properties announced the development of a 17-story, 217-room lifestyle hotel at the corner of Third and Church Streets in Uptown Charlotte. The hotel will complement the previously announced 300 South Tryon, a 25-story, 600,000 square foot office building at Third and Tryon.
The project will be developed by Spectrum Properties and is scheduled to be completed October 2017. The hotel will be managed by Kimpton Hotels, which was acquired by Intercontinental Hotels Group in 2015.
Tom Finke, CEO of Babson Capital, Cornerstone’s parent company, and the anchor tenant for the neighboring office building, said: “Charlotte has evolved remarkably in the past decade. The development of the Kimpton Hotel, with its expansive views of BB&T Ballpark, Romare Bearden Park and the city skyline will be another great attraction for local residents and business and leisure visitors. The quality of the hotel architecture, the thoughtful interior design and features, such as the rooftop lounge, will make it an instant attraction in uptown Charlotte.”
Jim O’Shaughnessy, managing director of the hotel group at Cornerstone, stated: “We have a successful, twenty year relationship with Kimpton Hotels and are thrilled to work with Spectrum to introduce Kimpton’s high quality and high-touch lifestyle hotels and restaurants to a dynamic city like Charlotte.”
Jim Dulin, chairman of Spectrum also stated: “Cornerstone is making a significant investment in Charlotte, and we are thankful for that. We are also thankful for city leaders such as Michael Smith, our City Council, and our County Commission for creating a vibrant downtown that attracts this quality of investment.”
The hotel will feature guest rooms with high-end decor, a well-equipped fitness center and 9,200 square feet of flexible meeting space, including a 4,000 square foot ballroom and five conference rooms. The hotel will also include a signature 180-seat restaurant, and a partially open-air, 7,500 square foot, 160-seat rooftop lounge that overlooks Romare Bearden Park.
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