NATIONAL REPORT—A Hyatt Centric comes to Memphis, TN, along with residential space, plus two Cambria hotels break ground in Iowa and South Carolina. Here’s more on the properties shaping up around the U.S.:
Hyatt Centric Part of Mixed-Use Development in Memphis, TN
Carlisle LLC revealed One Beale development has selected its partners and plans to start construction in January 2019. With more than 5.5 riverfront acres, Carlisle has planned its new One Beale project as a mixed-use, multi-parcel development comprising a Hyatt Centric hotel, residential, retail and office spaces, along with a public parking garage. Preliminary financials value the total development at $225 million, with the first phase estimated at $130 million starting in January.
The Hyatt Centric hotel will have 227 rooms, along with 15,000 sq. ft. of conference and meeting space on Beale St., and will include the renovation of the historic Ellis Machine Shop as part of its conference center. The hotel will also have a new riverfront restaurant, outdoor pool plaza and rooftop lounge. Hyatt Hotels will be a 50% joint-venture owner of the hotel and manage the hotel through a long-term management agreement.
Carlisle will also be developing a separate, mixed-use residential apartment building with 227 living spaces. Construction on this building will begin in conjunction with the Hyatt Centric and will have up to 15,000 sq. ft. of office space, as well as approximately 10,000 sq. ft. of riverfront restaurant space.
Iowa Gets its First Cambria Property
Choice Hotels International Inc. and Frontier Hospitality Group Inc. have broken ground on the Cambria Hotel Bettendorf. Slated to open in 2019, the 112-room property will be the first Cambria property to open in Iowa.
The property is located in Iowa’s Quad Cities region as part of the 75-acre TBK Bank Sports Complex “BettPlex” and High Five Lanes & Games. In addition to its proximity to the Quad City International Airport, the new hotel will have access to several businesses, including Rock Island Arsenal, Deere & Company, Hy-Vee, Kraft Foods and Oscar Meyer. The property is close to leisure attractions, such as the Tax Slayer Center, Rhythm City Casino and Isle of Capri Casino.
Cambria to Come to Fort Mill, SC
Choice Hotels International Inc. and York Investment Properties LLC have broken ground on the Cambria Hotel Fort Mill. The 127-room property is expected to open in 2019, and will be situated within a mixed-use development site containing an apartment complex, retail center and office space. The Fort Mill property is one of several Cambria hotels slated to open throughout the Carolinas in the coming years.
