Cornerstone, Spectrum Properties to Build Kimpton Hotel in Charlotte
- Apr 01, 2016
By Adelina Osan, Associate Editor
Charlotte, N.C.—Cornerstone Real Estate Advisers and Spectrum Properties recently announced the development of a 17-story, 217-room lifestyle hotel in uptown Charlotte. Spectrum Properties will develop the new hotel, which is scheduled for completion by October 2017. The hotel will be managed by Kimpton Hotels, which Intercontinental Hotels Group acquired in 2015.
Located at the corner of Third and Church Streets, the new development will complement the previously announced 300 South Tryon, a 25-story, 600,000-square-foot office building at Third and Tryon. The hotel will feature guestrooms with high-end design, a fitness center, 9,200 square feet of flexible meeting space, a 4,000-square-foot ballroom, five conference rooms, a signature 180-seat restaurant and a partially open-air 7,500-square-foot, 160-seat rooftop lounge overlooking Romare Bearden Park.
“Charlotte has evolved remarkably in the past decade. The development of the Kimpton Hotel, with its expansive views of BB&T Ballpark, Romare Bearden Park and the city skyline will be another great attraction for local residents and business and leisure visitors. The quality of the hotel architecture, the thoughtful interior design and features, such as the rooftop lounge, will make it an instant attraction in uptown Charlotte,” said Tom Finke, CEO of Babson Capital, Cornerstone’s parent company, in prepared remarks.
“Cornerstone is making a significant investment in Charlotte, and we are thankful for that. We are also thankful for city leaders such as Michael Smith, our City Council, and our County Commission for creating a vibrant downtown that attracts this quality of investment,” said Jim Dulin, chairman of Spectrum.
Image courtesy of Spectrum Properties