August 25, 2017
Land for Capitol View Hampton Inn & Suites hotel sold for $4.54 million
Franklin-based Chartwell Hospitality and investment firm Rockbridge of Ohio plan 10-story, 168-room hotel at 11th Avenue and LifeWay Plaza.
A joint venture entity has paid $4.54 million for two parcels at the Capitol View mixed-use campus in the Gulch with plans to build a 10-story Hampton Inn & Suites hotel.
Franklin-based Chartwell Hospitality and investment firm Rockbridge of Columbus, Ohio, expect to start building the 168-room hotel later this year at the southeast corner of 11th Avenue and LifeWay Plaza. The hotel is targeted to open in summer 2019.
The Hampton Inn & Suites will share Block E at Capitol View with a multi-tenant office building, which Boyle Investment Co. will develop to house local health care information technology company HealthStream’s new corporate headquarters starting in early 2019.
“We have a long-established relationship with Boyle, developing highly successful hotels within their master developments,” Chartwell’s founder and CEO Rob Schaedle said about that development partner for Capitol View property owner Northwestern Mutual. “The Capitol View Hampton Inn & Suites will be our sixth hotel in a Boyle development.”
The new, upscale hotel will feature a glass lobby with high ceilings, 4,000 square feet of meeting space overlooking the Capitol View urban streetscape and a rooftop pool and gym with views of downtown Nashville’s skyline and the historic State Capitol building.
Overall, Capitol View will include more than 1.1 million square feet of Class A office space, 130,000 square feet of retail and restaurant space, 600 multifamily residential units, two hotels, a 2.5 acre urban activity park and community space. Headquarters of hospital chain HCA’s HealthTrust, Sarah Cannon and Parallon business units are at Capitol View with LifeWay Christian Resources’ new headquarters under construction.
Jeff Haynes, a partner at Boyle, said the developer’s mixed-use developments around Nashville has taught it that the right hotel flag and developer are key to the success of projects. “Nashville is a dynamic city and hotel market, and we are excited to deepen our roots with our third investment downtown,” added Jim Merkel, Rockbridge’s CEO.
Originally Published in The Tennessean
By Getahn Ward