NORTH POINT HOSPITALITY of Atlanta, Georgia, plans to expand its presence in Nashville.
Just a few months from opening Marriott’s first tri-branded hotel in Music City, North Point Hospitality on July 26 said it had acquired a nearly one-acre corner site in the western part of Nashville.
North Point Hospitality paid $6.6 million for the three-parcel site, according to local news reports. Previous owner was Tim Reynolds, who bought the real estate in 2015 for $4.4 million.
North Point Hospitality plans to develop two hotels and a parking deck. The project will be built in phases. The first hotel will be a 200-room full-service property, and the second will have 150 rooms. North Point Hospitality did not identify any brand names. The area is zoned for a building that can reach 15 stories.
The neighborhood is also called Midtown, a health care and university market that includes St. Thomas Hospital and Vanderbilt University.
“We see this area as an emerging corridor for future development,” S. Jay Patel, president and CEO of North Point Hospitality, said in a news release. “This location has excellent access to key demand generators.”
Surrounding the site are Church, 19th and Hayes streets. Going up nearby on 16 acres along Church Street is the Nashville Yards Development, a $1.2 billion mixed-use entertainment district.
The hotels will be North Point Hospitality’s sixth and seventh hotels developed from the ground up in the Downtown West End Nashville market.
Its $140 million, 470-key Marriott tri-brand hotel is set to open by the end of the year. The hotels are a 209-key AC Hotel; a 136-unit Residence Inn by Marriott; and a 125-room SpringHill Suites by Marriott.
North Point Hospitality also developed the 194-room Hilton Garden Inn and adjacent 119-suite Home2 Suites in the West End Vanderbilt submarket.
North Point Hospitality has developed 35 hotels from the ground up with a total investment of more than $400 million. The company owns and operates nine hotels in the southeast. It has four hotels under construction with an additional six hotels in active development at a total project cost of more than $450 million.
Other recent news from North Point Hospitality:
- Completes $7M renovation at Hilton Garden Inn in Savannah
- Breaks ground for a $52M Hampton Inn & Suites in Atlanta