[ ABOVE: Preliminary rendering of the proposed Hyatt Place Hotel ]
Another new hotel is coming to downtown Greenville. Plans have been submitted for a new six-story, 130-room Hyatt Place Hotel at the corner of Broad and Calvin streets, across from the new Erwin Penland building.
Tara Investment Group, a family-owned firm based in Charlotte, paid $2.8 million for the property, according to Greenville County property records.
The hotel, which will occupy about 0.8 acres and combine seven parcels of land, will feature a basement-level pool and fitness center, a coffee and cocktails bar, and a grab-and-go concept and hot breakfast bar, said Amit Patel, associate with Tara Investment Group.
A parking deck is currently being incorporated into the plans. Patel said the developer had initially hoped to utilize some of the new Erwin Penland parking garage, but learned the garage is already full.
Tara Investments had been looking for a spot in downtown Greenville for about a year, said Patel. A few sites were available in the West End, but nothing in the close proximity to downtown Main Street the investment group wanted.
With the redevelopment of the Greenville News property, the intersection of East Broad and Main is a strong site, Patel said.
The company chose the Hyatt Place brand because of other anticipated hotel brands already announced. Hyatt has no select-service brand in the area (the Hyatt Regency on North Main Street is a full-service hotel) and Tara felt the choice would be a unique addition to the market that caters well to both business and leisure travelers, Patel said.
“There is a lot of corporate demand for rooms downtown,” he said.
Preliminary plans and renderings will go before the Design Review Board Dec. 3. If approved, Patel hopes to break ground in the third quarter of 2016, and construction is expected to take 14-16 months.
Tara is “looking forward to working with the city” and is “very excited to have a chance to do this project in Greenville,” he said.
The project’s architect is Christopher Allred of Charlotte’s RBA Group.