The Raleigh-Durham, NC-based Concord will manage the 102-room Marriott Residence Inn at 6900 Cascade Court and 104-key Marriott Fairfield Inn & Suites at 5909 Stone Creek Dr., side-by-side projects in the 100-acre Cascades at the Colony. The hotels will open in spring 2009 on a shared 5.75-acre tract.

"One of my first jobs was to find the right partner so we could move down the road on a management pact," says Christopher Sheldon, Jackson-Shaw's vice president of hotel operations. He tells GlobeSt.com that Concord's relationship with Bethesda, MD-based Marriott International Inc. was the chief dealmaker because that's the branding iron that the developer plans to use for part of its development push. Meanwhile, Concord, with 50 hotels in 11 states and two Canadian provinces, is looking to double its size by 2010.

Colony's Residence Inn

The developer also is planning to put a Renaissance Hotel at the Shops at Legacy in Plano. Sheldon says construction financing should be in hand by year's end, allowing ground to break in early 2009 on a 276-room hotel, give or take, on a 2.6-acre tract.

Sheldon says Jackson-Shaw wants to build a portfolio with a handful of Marriott-branded Renaissance hotels and 12 Embassy Suites, a flag of Beverly Hills, CA-based Hilton Hotels Corp. The development cost for a Renaissance hotel can run $60 million to $90 million while an Embassy Suites project ranges from $30 million to $50 million, the hotel exec says. In comparison, he says the Cascades' hotels are $12-million to $14-million projects.