Another hotel planned for a surface lot in uptown Charlotte will add some Moxy to the central business district.
Pre-submittal development materials in public records show that a Moxy hotel, a Marriott flag, is planned for the corner of Fourth and Brevard streets, across the street from the Charlotte Transportation Center and near the site of a previously planned condo tower. If approved, this would be Charlotte's first Moxy hotel, which is described by Marriott (NYSE: MAR) as an "affordable boutique hotel." There are at least 20 Moxy hotels open globally, with another 86 in the pipeline.
Marriott could not be reached by deadline for more information on the Charlotte hotel.
Moxy hotels include 24-hour, self-service food and beverage, tech features like keyless entry, and a bar and lounge. Rooms are small, averaging 183 square feet, and hotels typically include 100 to 200 rooms.
The block where the Moxy is planned is owned by an entity called Roy T Number Thirteen LLC, affiliated with locally based FMW Real Estate, according to its business license. That entity owns three parcels that total almost half an acre along Brevard Street.
A site across the street, at Fourth and Brevard streets, was previously targeted for a 30-story condo tower, which would have been the first one to break ground since the recession. But that project, 1Brevard, was scrapped in early 2016 after the developer cited a weak pre-sale market. No condos have been built in uptown since the recession.
Uptown Charlotte is seeing a wave of activity on the hotels front, with thousands of rooms in the pipeline across center city. Both established brands, like Marriott's Residence Inn and Home2 Suites by Hilton, are underway. But a number of new flags with a boutique profile are also heading to uptown, including some Charlotte firsts — AC Hotel, Even Hotel and Grand Bohemian Hotel among them.
A recently released report by CBRE (NYSE: CBRE) predicts that because of the high volume of new hotel supply hitting Charlotte, occupancy will remain limited over the next two years. Across the entire metro, 6,700 hotel rooms will be added by 2019. Four hotels are currently under construction in the CBD, adding more than 600 new rooms that will cause a 7% increase in available supply, according to CBRE.