Developers plan $58M Residence Inn by Marriott for downtown lot

Hospitality-focused Peachtree Group closed on the parcel in October

A rendering of the proposed downtown Residence Inn by Marriott. (BGKT Architects via SABJ)

SAN ANTONIO – A partnership of out-of-town developers plans to plant a flag in downtown San Antonio.

Austin-based Merritt Development Group and Georgia-based Peachtree Group are planning a Residence Inn by Marriott at 100 N. Main Ave. The team is aiming to deliver 171 rooms over 10 stories. The 124,000-square-foot property would also see a rooftop pool and terrace, a fitness center, meeting rooms and a panaderia. Construction is expected to cost $58 million, according to Merritt’s website, with Peachtree serving as the owner-operator.

A preliminary plan review for the building is currently being conducted by the city of San Antonio’s Development Services Department, municipal records show. A similar review of the project’s schematics was held in August.

Hospitality-focused Peachtree Group closed on the parcel in October, the second time that it had changed hands this year. It was previously owned by REM Hospitality through an affiliated entity known as MUD 100 N. MAIN LLC.

The centrally located piece of land has long been the subject of hotel plans. REM acquired it in 2016, hoping to build an 18-story, Cambria-branded mixed-use building with Maryland-based Choice Hotels.

You can read the full the story in the San Antonio Business Journal.

Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.

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