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$20 Mil. Planned Hotel to Cater to Under-40 Business Crowd

ATLANTA-Entrepreneur Mark McClure and a group of private investors plan to come up with 30% of the development cost themselves and fund the balance with a construction loan. The 12-story to 15-story, 170-room boutique asset is planned on a one-acre site on Pharr Road in Buckhead's entertainment district off Downtown.

By Judith Schonbak | Updated on October 19, 2000

ATLANTA-In an area of luxury and upscale chain hotels, a 30-something entrepreneur plans to build a boutique hotel to appeal to the under-40 business traveler looking for a hip, cosmopolitan place to stay with the latest high-tech amenities.

Buckhead, off Downtown, is known for its toney shops, upscale office buildings and luxury hotels. Now, Mark McClure wants to add a $20-million specialty hotel to the mix. The construction cost equates to $117,647 per room.

He plans to build a 12- to 15-story facility with 170 rooms on a one-acre piece of land on Pharr Road in the entertainment district of Buckhead. Currently on the property is Bell Bottoms, a night club.

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