NASHVILLE, TN – (July 21, 2016) Acumen Development Partners, a Chicago based real estate development consultancy was honored to be a part of the groundbreaking ceremony for North Point Hospitality’s tri-branded Marriott hotel in downtown Nashville. The ceremony, held Thursday July 14th, ushered-in excitement and momentum for this truly unique hotel development. The combined AC Hotel, SpringHill Suites, and Residence Inn by Marriott will be the first of its kind in the hospitality industry. Located on the corner of 5th Avenue and Korean Veterans Boulevard in downtown Nashville, directly adjacent to Music City Center, the $137 million project is scheduled to open in 2018.
Acumen was selected as Development Manager in February of this year, and has been working with the project team since to solidify agreements, finalize design, and obtain permitting. “Acumen is truly delighted to be a part of such a unique and complex project,” said Gary Womack, Managing Principal of Acumen. “Our firm was brought in by North Point Hospitality to assist ownership with the project budget and design. We are thrilled to have been able to work with the NPH team to add value to the project.” When asked about the decision to hire Acumen, Whip Triplett, Executive VP and Partner for North Point Hospitality remarked, “We are excited to have Acumen as a part of the NPH team on this complex tri-branded Marriott project. Gary and his team have immediately added value and depth to the construction management process.”
The tri-branded hotel will include a 209 room AC Hotel, 136 room Residence Inn and a 125 room SpringHill Suites for a total of 470 guestrooms and suites. The AC Hotel is a modern and stylish lifestyle brand originally from Europe that has expanded into major US cities in 2014. Residence Inn offers extended stay suites with comfortable living rooms and kitchens. SpringHill Suites provides sleek suite style rooms that are ideal for both families and business travelers. Shared common areas will include a fitness center, 4,000 sf of meeting space, an outdoor infinity edge pool, rooftop bar, and patio. The development will also feature four floors of parking, and an activated street presence with multiple retail outlets.
The new hotel joins the Sobro neighborhood, which boasts a number of entertainment venues including the Music City Center Conference Hall, Country Music Hall of Fame and Museum, The Nashville Symphony, Nashville Convention Center, Tennessee Sports Hall of Fame, and Bridgestone Arena. The area is bustling with new development and is fast growing to be a favorite destination among world travelers.
About Acumen Development Partners
Acumen Development Partners is a leading provider of turn-key real-estate development services for the hospitality, multifamily, and office markets. The backbone of Acumen is 49 years of partner experience, managing 138 projects in 61 cities, with an aggregate value of over $3 billion. Acumen’s resume includes 88 hospitality projects with over 19,000 guestrooms and 1.2 million sf of meeting space. With Acumen, each development challenge is viewed in a long-range context, troubleshooting forecasted outcomes to maximize value. Remove the learning curve from your pro-forma, and Build your next project Boldly, With Acumen. Learn more at withacumen.com
About North Point Hospitality Group
Based in Atlanta, GA, North Point Hospitality is an award-winning hotel development and operations company. North Point and its affiliate companies have developed 35 hotels from the ground up with a total investment over $400 million. Currently the company owns and operates seven Hilton and Marriott branded hotels in the Southeast with an additional nine hotels either under construction or in active development in excess of $350 million.
The Acumen Development Team attending the Tri-Brand Marriott Hotel Groundbreaking. From right to left: Gary Womack - Managing Principal, Melina Garza - Catalyst, Steve Laski - Managing Principal, Bob Power - Project Manager