A Henrico-based hotelier is adding to its property count in the city — this time with a proposal to construct an extended-stay hotel and commercial space that will rise a stone’s throw from Carytown.
KM Hotels is planning a five-story, 127-room Residence Inn by Marriott hotel at the corner of Floyd Avenue and North Thompson Street, just off Interstate 195, according to an application filed last week with the city’s planning division.
The project, first reported by the Richmond Times-Dispatch, would rise on 10 contiguous lots currently occupied by a mix of offices on roughly a 1-acre block at 3600 and 3602 Floyd Ave.; 100, 102, 104 and 106 N. Thompson St.; and 101, 103, 107 and 109 Berrington Court.
“The location is strong, with the easy access to (I-195) and all parts of Richmond, as well as the walkability to Carytown and the Museum District,” said Mayur Patel, KM Hotels’ president and COO. “We felt that it was a good location for a high-end, extended-stay product like the Residence Inn.”
Patel said the firm is under contract to purchase the 10 properties owned by Richmond-based BMS Partners for an undisclosed amount.
Combined, the properties most recently were assessed by the city for about $2.7 million, according to real estate records.
Plans call for the existing cluster of offices, mostly converts of single-family homes dating to the late 1940s, to be razed and replaced with the hotel. About 5,600 square feet of retail or restaurant space would be included at the street level of the new development, mainly fronting Floyd Avenue, according to planning documents.
A central courtyard, fitness and meeting rooms, lobby area, front desk, workspaces and hotel management offices also are planned for the site.
The proposed restaurant and bar at Floyd Avenue and North Thompson Street would have its own public entrance, according to planning documents.
An existing surface parking lot overlooking I-195 at 100 and 102 Berrington Court also would be redeveloped into a five-story, 193-space parking deck for the future hotel property, according to planning documents.
Patel said the firm plans to enter into a long-term ground lease with the family of the late Hilton W. Goodwyn, which owns the 0.4-acre surface parking site on Berrington Court. As part of its agreement with the Goodwyn family, KM Hotels will construct the parking deck, reserving 45 spaces of the 193-space deck for the under-construction Carytown Exchange development on Cary Street.
Seeking a special-use permit
KM Hotels is seeking a special-use permit from the city since all 12 sites are zoned RO-2, which does not permit hotel or ground floor retail or restaurant uses.
Andy Condlin of law firm Roth Jackson, which is representing KM Hotels through its special-use permit application, said it plans to take the request to the city’s planning commission in March or April 2020.
If granted approval, construction could start late next year and would take about 18 months to complete, Patel said.
Henrico-based NBJ Architecture and Richmond-based Glave & Holmes Architecture designed the hotel. VHB is the civil engineer handling the project.
A general contractor has not been selected.
KM Hotels operates hotels under several flags, including Candlewood Suites, Fairfield Inn & Suites and Hampton Inn, throughout Virginia, West Virginia, Texas, New Jersey, Kentucky, Maryland, Alabama and Washington, D.C.
The company has been busy in metro Richmond, most recently announcing plans in July to redevelop the former Akaza Hotel property at 6531 W. Broad St. into a hotel and office development.
It’s also announced plans in April to construct the state’s first AC Hotel by Marriott on part of a nearly 2-acre site at 1300 E. Byrd St., along the south side of the Kanawha Canal. The eight-story, 150-room hotel would rise next door to the Lady Byrd Hat Factory building and across Virginia Street from the Vistas on the James condominium building.
The company also is building its new Tru by Hilton hotel in Ashland. Its 119-bed Residence Inn is nearing completion on the former Skilligalee restaurant site at 5416 Glenside Drive, and it is remodeling the Holiday Inn Express at 2000 Staples Mill Road. It also recently converted the remaining Red Carpet Inn, which sits next door to the future Tru by Hilton in Ashland, into a Red Roof Inn.