Someone who works at a place here told my neighbor that the hotel deal fell through. Not sure how reliable that is, but that would be a bummer.
It would take balls of steel to commit to a hotel project at the moment. That’s zero surprise to me. Raleigh should consider itself lucky that we are one of the places where investment of any kind is coming to its core right now.
Great so basically we’re going to have some generic apartments in a corner of downtown that people forget about already. Sigh. I get John’s point, but it’s frustrating to watch all these hotel projects get cancelled.
These generic apartments are a double edged sword. On the one hand, they are painfully bland; on the other hand, they bring life to the city center that spurs more development. If I were told 25 years ago that there’d be thousands of these units put into the market by today, I would have been delighted. Looking at it in a half full glass sort of way, it’s moving the needle to better experiences overall.
Maybe they’ll leave the hotel pad empty until a hotel company is ready to proceed. I think by this time next year, we’ll be having conventions etc again and hotel demand will again be growing
If you look at walkable hotels to the downtown core (this is a known thing for those of us that have been around for a few years or longer but I’m calling it out for your sake @atl_transplant), we have a rather serious deficiency (pre-COVID). Maybe that’s a blessing that leads to survival of those existing, but this time last year we had a half-dozen hotel projects inside the downtown core projected. The existing hotel rooms were booked solid nearly 365. Any time we had visitors coming to town, if they didn’t book weeks in advance, they were staying outside of walking distance and had to Uber. Forget it if there was a conference like World of Bluegrass.
So, I’d like to think as we return to some sense of normalcy and the new hotels like Origin (they were open single digit weeks, maybe even just days before the lock down) and The AC Hotel/Willard are getting booked, we’ll see some of these projects return.
Given the recent announcement that Enterprise is moving to the Life Storage building there’s maybe hope that project is happening? I’d also like to see the Nash Hotel get going again. Consider the Nash Hotel and Nexus happening which would have a considerable impact to bridging Fayetteville St to the Warehouse District. Add the Municipal City Hall project on Hargett and…
I tend to think 1-2 years until the hotel is completed and it will be opening to a completely different situation than what exists now.
Hopefully that will change once Dreamville and other large festivals start happening again.
Because the city and hotel brands would be doing themselves a disservice by not paying attention to the 80 to 100% of hotel capacities being taken due to these events.
My pipe dream was that Hoffman would get a music venue similar to The Anthem at the Wharf in the Seaboard development. Such an amazing music venue, and that would draw to the hotel as well.
It Covid’s fault once this is all over I think we’re get our thing back.
Don’t know if it’s easier for companies partnering with hotel chains to proceed with these projects vs. boutique hotels but the Enterprise lot is supposed to be a Courtyard by Marriott IIRC. Big brands like that might be more willing to plow forward despite the risk.
It’s my understanding that Marriott does not build hotels, most if not all new ones are franchises. Marriott just takes care of marking and bookings and sets standards, like McDonald’s. So to get a new hotel have to find some one that Is willing to take risk of actually building it. I think this is businesses model for most hotel chains.
not 100% sure corp hotels won’t build a property, but there are companies like Winston Hospitality comes to mind, a local hotel development company (or used to be) that would build and flag a hotel with a brand from their portfolio of franchise brands. I was under the impression Marriott build Raleigh City Center Marriott, but maybe I’m way off.
passed by seaboard station just now and it looks like there’s a base for a tower crane in the big pit. Someone with a drone might be able to get a pic!
Finally some underground parking!
when do folks think the crane will be fully assembled?