SAN ANTONIO – Exciting news for downtown San Antonio as a new hotel project is about to break ground after securing construction financing.
The Residence Inn by Marriott at 100 N. Main Ave. is set to start construction soon following meticulous pre-work and design reviews.
With a $24.7 million construction loan from Fifth Third Bank and approval from the Historic and Design Review Commission, developers are one step closer to bringing a 10-story, 171-key hotel to life near Main Plaza.
This $58 million project is a partnership between Merritt Development Group based in Austin and Peachtree Group, a hospitality investor from Georgia.
Construction is expected to commence soon, with BGKT Architects leading the design.
After several months of design presentations, HDRC finally gave its approval last month, overcoming objections from various city stakeholders.
Construction is slated for completion in 2026.
Merritt is also working on a similar project in the Government Hill neighborhood, further demonstrating their commitment to expanding San Antonio’s hospitality offerings.
If you want to read more about this story and others like it, check out the San Antonio Business Journal.
Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.
Copyright 2024 by KSAT – All rights reserved.
