West End InterContinental Hotel Will Finally Happen
By Eliza Theiss, Associate Editor
It seems Nashville just can’t get enough of hotels these days. After years of uncertainty, an InterContinental hotel is finally coming to Music City’s West End Summit, the 900,000-square-foot office mega-development helmed by local real estate guru Alek Palmer. The Nashville Business Journal recently quoted the developer as saying the hotel deal is “99.9 percent done.”
The same report also states that the megaproject’s hospitality component will have 230 rooms on 18 floors, and will feature a modern design. The hotel will sit between West End’s two 20-story office towers. The full-service hotel, described as “four-and-a-half stars” is expected to open a couple of months after work on the office towers wraps up in 2015.
Developer Palmer has been trying to bring an InterContinental property to the area for several years now. According to a different Nashville Business Journal report, a slightly larger hotel property, featuring 285 rooms, a 10,750-square-foot ballroom, 18,000 square feet of meeting space, fitness center, spa and several dining venues was announced back in 2006, when West End was rumored to be completed by 2008. In the end, the hotel, along with the entire West End project, got pushed back.
As previously reported here, Alex S. Palmer & Co. will be developing West End Summit in Nashville’s Midtown. The development, one of the biggest in Music City’s history, will create 900,000 square feet of Class A office space, 475,000 square feet of which are already under lease contract to Parallon Business Solutions and Sarah Cannon Research Institute (SCRI), two HCA Holdings Inc. affiliates that will consolidate their operations at 1600 West End. Parallon, which will be taking up 350,000 square feet of office space, will consolidate 750 area jobs at the location, while SCRI will relocate 200 jobs to its 125,000-square-foot lease. With both companies set to increase their workforce by 2017, West End is expected to bring 2,000 jobs to Midtown. A 2,800-car parking garage, high-end retail, signature restaurants and state-of-the-art fitness center will also be created at the site. West End is expected to cost $265 million.
Image courtesy of Alek S. Palmer & Co.
Chart courtesy of Marcus & Millichap