Construction should start in mid-December on the 98-room Tru by Hilton hotel, which is moving through the regulatory process for its first Northeast Florida hotel at Town Center Promenade.
Designed to attract millennials, the four-story property is planned on 1.5 acres at 4640 Tropea Way, off Town Center Parkway.
Town Center Hotel Partners LLC of Lebanon, Tenn., bought the property Sept. 30 from Core Property Capital, through CPC Jacksonville SJTC Hospitality LLC.
It will sit on lakefront property at the Promenade, which is across from St. Johns Town Center.
The city is reviewing the proposed project’s concurrency and site plans. Prosser Inc. is the civil engineer.
Hotel partner Roshan Patel previously said construction would take about nine months.
The estimated $9.7 million project comprises the $1.45 million property purchase and an estimated $8.25 million construction cost.
Patel said the group also is building a Tru by Hilton in Tallahassee, home to Florida State University.
The new midscale brand is designed to attract leisure and corporate travelers, particularly millennials.
Hilton Worldwide designed the brand to attract generations united by a “millennial mind-set.” It says it focuses on hotel basics — bed, shower, technology — along with a public space to foster connections at a value price.
USA Today reported in January rates at Tru vary by location, but will be in the $90 to $100 range. The first Tru by Hilton property is expected to open in summer 2017 in Oklahoma City.
Hilton Worldwide said in September it has 120 Tru executed agreements, totaling more than 11,000 rooms, along with another 200 hotels in process representing more than 18,000 rooms.
Ravella should start construction soon
Construction should start in a few weeks and be completed by year-end 2018 on the Ravella Town Center Apartment Homes.
Stanmore Partners of Houston recently paid $7 million for about 6 acres at 4674 Town Center Parkway for the 306-unit project.
Jason Schlanger, managing director of multifamily, said the project is a four-story wrap project — apartment homes wrapping a structured concrete parking garage.
He said the contractor is Hoar Construction LLC of Birmingham, Ala. The architect is Steinberg Design Collaborative of Houston and the civil engineer is England, Thims & Miller of Jacksonville.
Schlanger said the Class A apartments will average 891 square feet and rents will be finalized closer to the end of construction.
Ravella is being developed in The Strand at Town Center near St. Johns Town Center. Stanmore Partners bought the property from PGP Jacksonville TC II LLC.
Stanmore made the purchases through Stanmore/ADEF JAX Owner LLC and Stanmore JAX Land LP. Stanmore ADEF JAX Owner LLC took out a $35.75 million mortgage from First Tennessee Bank.
Permits for the apartment buildings and a seven-level parking garage total almost $32 million.
The city issued a permit Wednesday for the $6.5 million garage.
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