San Antonio-based Leddy/Nueces-Hill Hospitality LLC is developing the 230-room, full-service hotel at MoPac Expressway and Braker Lane. Leddy also will operate and manage the hotel. Dirt should fly in the first or second quarter of 2002 and open about 15 months later. Leddy also owns and manages the Club Hotel by Doubletree at Interstate 35 and Martin Luther King Boulevard on the northeast edge of Austin's CBD.
Leddy bought the land for the hotel from CarrAmerica, which owns and manages the development's 192,451-sf Building Three occupied by publisher Harcourt Brace Inc. Buildings one and two, 75,000 sf and 100,000 sf, are under construction in a development joint venture between McShane Corp. and Pacific Realty Trust.
Those players as well as the north Austin location attracted Leddy to the site, Brandon Raney, project manager for Leddy tells GlobeSt.com. "We feel that having people like that that we know have done just great things in Austin and elsewhere, they're a good group of people to team up with," Raney says.
The hotel's spot is in the heart of Austin's biggest concentration of technology companies. Nearby are IBM Corp. and the new home of its Austin-based subsidiary, Tivoli Systems, National Instruments Inc. and buildings that house a number of start-up companies. "We've been tracking growth and it's going north and west in Austin," Raney says. "Even with the tech train wreck that has occurred, we feel like that particular part of Austin is going to continue to be a an attractive place for business to move."
The hotel will be positioned to compete with the nearby Renaissance Austin on the high end and Embassy Suites in the mid-range, Raney says. It will have no more than 5,000 sf of meeting space and will leave big meetings to the Renaissance while it concentrates on filling rooms with amenities such as made-to-order breakfast included in the room price.
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