Savannah Firm to Develop Element Hotel Near College Football Hall of Fame
Hos. Management Buys Site at Marietta and Mills Streets for 157-Key Hotel
A Savannah hospitality firm plans to develop a 12-story Element hotel within walking distance of the National College Football Hall of Fame in Atlanta.
Hos. Management submitted plans for the 157-key hotel to be built at Marietta and Mills streets. While no Element by Westin hotels - Starwood Hotels & Resorts' green, boutique brand - have opened yet in metro Atlanta, one is moving forward at Prominence in Buckhead. The Marietta Street location would be the first Element in Downtown Atlanta.
Plans for the new Element come as the Marietta Street corridor booms with development spurred by the opening of the National College Football Hall of Fame at 250 Marietta St. Several hotels and restaurants have been planned since the Hall of Fame opened in August 2014 after moving from South Bend, IN.
The opening of Mercedes-Benz Stadium and the National Center for Civil & Human Rights, in addition to the $25 million renovation of Centennial Olympic Park, have created increased demand for hotel rooms. In November, CoStar News reported that Hyatt Hotels Corp. and local developer Songy Highroads would build a 175-key Hyatt Place at 300 Luckie St.
Well before the new wave of museum and sports-related development emerged Downtown, Legacy Ventures President David Marvin invested heavily in the area, which he dubbed the Luckie-Marietta District. As a result, Legacy positioned itself as the largest private owner of hotels, restaurants and entertainment venues in the area along Centennial Olympic Park.
For Hos. Management, led by brothers Kirit and Anil Patel of Pooler, GA, the Element at 445 Marietta would mark a major move into Downtown Atlanta. The majority of Hos. Management's hotel development, including the Cotton Sail, Cambria Suites and Aloft in Savannah, has occurred along Georgia's coast.
Hos. Management acquired the 0.41-acre site at 445 Marietta last month for $1.5 million, according to CoStar research. The site currently is home to a Class C structure built in 1886 and occupied by Clearvue Glass & Mirror Co.
For more information about the sale of 445 Marietta, please see CoStar COMP #4188634.