Demolition and construction at the site, located 515 20th St., NW, will begin shortly. The hotel is scheduled for a first-quarter 2008 delivery.
Gewirz's son Steven, also involved in the project, tells GlobeSt.com that the project's final costs have not yet been completely calculated. "We estimate it will be between $30 million to $40 million."
The new hotel will not be a traditional Courtyard by Marriott, according to Small. "This will be a boutique urban hotel, using the latest Courtyard by Marriott prototype," he says in a statement.
Gewirz adds that they will use the Courtyard prototype rooms but more extensively develop the lobby and common areas, using higher-grade materials such as granite and marble, for example. It will still be a limited service hotel. WDG Architecture of Washington, DC is designing the base building, and HVS Compass of Rockville, MD has been selected to do the interior design.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
