Cleveland Construction will be the construction manager for a new 22-story hotel tower to be built above Charlotte’s EpiCentre.
John McKibbon, chairman of McKibbon Hotel Group, said construction will start before the end of the year. The architect is BB+M Architecture.
The project will feature two hotels totaling 300 rooms: a Residence Inn and AC Hotel by Marriott and a Residence Inn. Work should be completed by the fourth quarter of 2017, with rooftop and first-level retail space for rent.
“The development of this site into an attractive and dynamic dual-branded tower injects an immediate boost of energy and economic momentum to this area of uptown Charlotte,” Paul Picarazzi, principal of Vision Ventures. was reported as saying in the Charlotte Observer. Vision Ventures is working on the project with McKibbon Hotel Group, which will manage the hotel after its completion.
“This project is a true collaboration between the city and our development team to bring new and exciting life to this location with strategic design and planning that not only complements Charlotte’s skyline, but also maximizes the potential of the site,” McKibbon said in a statement.
Vision Ventures and Mount Vernon Asset Management purchased the EpiCentre’s $94 million construction loan in 2010 after the original developer, Afshin Ghazi, lost control of the property in foreclosure, the newspaper reported. Last year, Los Angeles based CIM Group purchased the EpiCentre for $130.5 million, while Vision Ventures and Mount Vernon kept the air rights for the tower.