SAN ANTONIO – With construction financing in hand, a downtown hotel project’s groundbreaking is coming close to fruition.
A Residence Inn by Marriott hotel at 100 N. Main Ave. is slated to go vertical soon after months of pre-work and design reviews.
With a $24.7 million construction loan recently secured from Fifth Third Bank and a certificate of appropriateness from the Historic and Design Review Commission, the development team is a step closer to building a 10-story, 171-key hotel steps away from Main Plaza.
The project — with an estimated $58 million price tag — is backed by a partnership between Austin-based real estate firm Merritt Development Group and Georgia hospitality investor Peachtree Group.
A representative for Peachtree Group told the Business Journal that construction would begin soon, but a definitive date has not been set. BGKT Architects is the design firm attached to the project.
HDRC gave the development final approval last month after a protracted process that saw three designs presented to the panel over the previous eight months.
City staff, Centro San Antonio and the San Antonio Conservation Society had expressed concerns about the project in the spring, arguing the building’s architecture did not blend in with the surrounding built environment.
Merritt President David Merritt told HDRC in March he would work with the city on material choices, committing to incorporate more brick into the facade.
Construction is expected to wrap up in 2026.
Merritt is working on a similar project minutes north of downtown, hoping to place a Residence Inn hotel in the Government Hill neighborhood with Chicago-based Phoenix Development Partners. A preliminary plan review for that project is currently being conducted with the city, according to municipal records.
Read more of this story, and other stories like it, in the San Antonio Business Journal.
Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.