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If he is referring to the Aloft project, its not going to look like those typical cookie cutter Alofts based on the comment he made. I'm really hoping that it will be more than just a hotel and include either office or residential along with street level retail or restaurants. DGI president Zack Matheny mentioned in the Triad Beat article about residential towers being planned near the ballpark so just maybe an apartment tower is a part if his Aloft project and will be constructed next to the Aloft or the Aloft and residential will be in one building. It would be nice to have an apartment tower overlooking the ballpark.
For what it's worth, any developer already has a BIG announcement right around the corner. It may be renditions of ALoft. Or maybe it's Project 561 (or at least a watered down version of it). I think if it's ALoft, it would be great to have mixed use at the street level.
That said, "shortly" in developer terms can mean anything from a couple weeks from now to a year from now.
Carroll talks about investing $65 million on Carroll at Bellemeade / Hyatt Place. Then he talks about investing $90 million on another downtown project on the drafting board. Again there are only two other projects. Project 561 which would likely exceed $90 million and is more of a proposal and then there is the Aloft hotel project across from the ballpark. I doubt he is referring to project 561 because he's not going to put this project in the design phases unless he has secured tenants and plans to move forward. There is no indication that he has secured an anchor corporate tenant. That leaves Aloft. The price tag is very telling because at $90 million, it would likely mean a larger mixed use project which includes the Aloft hotel. There could be real potential for a midrise Aloft and highrise residential development overlooking the ballpark being that the foot print of the lot is much much smaller than Carroll at Bellemeade. But I seriously doubt a 160 room Aloft hotel alone is going to carry a price tag of $90 million. We all know how large the Carroll at Bellemeade project is and its only $65 million.
Here is an aerial showing Roy Carroll's projects in relationship to First National Bank Field. You can see how small the Aloft site is. Roy Carroll owns that property. He has not commented on Aloft or his $90 million development which is likely one in the same. Look how much land Carroll at Bellemeade takes up and its a $65 million development versus the small lot which is likely the site of his $90 million project. Now a typical Aloft hotel is anywhere from $18 million to $30 million, Now what would account for the other $60 million to $70 million on the Aloft site? This can only be some sort of a residential tower with a parking deck. I'm really hoping this project will incllude some retail & restaurants elements which is lacking in Carroll at Bellemeade.
Pretty soon its going to get even more unrecognizable. Its a fair bet we are going to see some sort of tower overlooking the ballpark from the south and im sure the lot across from the Hyatt Place between Commerce and Eugene St is being eyed for development as well. Hopefully the owners of the lot and adjoining building will sell and relocate.
Hopefully we are getting close to an announcement about what else is going on with the Aloft site bordering the ballpark to the south. Back in December Roy Carroll told the Triad Business Journal he would have a major announcement about that site in about 60 days. That would be this month and we are getting near the end of it.
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