The second of two planned hotel sites at Crescent Communities' mixed-use development project in uptown Charlotte has been acquired.
Mayfair Street Partners, headquartered in Cumming, Ga., purchased a roughly 0.4-acre site on the block where Crescent's apartments, 47,000-square-foot Whole Foods Market and parking deck have already topped out. MSP acquired the site for $4.5 million on Aug. 30, according to Mecklenburg County real estate records.
Mayfair will develop a 10-story, 181-room hotel on the site. The hotel is described as an "upscale, select-service hotel" focused on "wellness-minded" travelers but a specific flag or hotel company was not disclosed.
Sources have previously told the Charlotte Business Journal that Even Hotels, a concept by InterContinental Hotels Group (NYSE: IHG), was pegged for that site but that flag was unconfirmed early Thursday. The Triad Business Journal, a sister publication of the CBJ, reported last week that Mayfair would be using modular construction for a Hyatt Place hotel in Winston-Salem and that the firm is currently building "a modular 181-room Even Hotel in Charlotte."
The hotel will include an expansive fitness center, healthy food and beverage options, and in-room fitness options, according to MSP. Even is described by IHG as a wellness-focused brand, with features like in-room training zones, group fitness classes and a health-food market concept called Cork & Kale.
There are only a handful of Even Hotels in operation currently — seven are available for booking on IHG's website, including in Norwalk, Conn.; Rockville, Md.; Omaha, Neb.; Eugene, Ore.; Brooklyn, N.Y.; and two in Manhattan.
Kurt Schoenhoff, vice president of hospitality and brokerage services at Selwyn Property Group, represented both MSP and Crescent Communities in the land transaction.
"It was a difficult challenge to prepare for a hotel on less than a half-acre site," Schoenhoff said. He declined comment on what flag is planned for the site.
A call to A.J. Belt, managing director and a partner at MSP, was not immediately returned Thursday morning.
The first hotel confirmed for Stonewall Station was a 160-room Home2 Suites by Hilton. An affiliate of Yedla Management Co., based in Huntsville, Ala., acquired the 0.6-acre site at the site's hard corner of Stonewall and Caldwell streets last year. That hotel is expected to break ground within the next few months.
MSP's hotel will be developed on a site immediately south of the Home2 Suites, facing Caldwell Street and Interstate 277.
Charlotte Business Journal