A developer is moving forward with a 275-room, dual-branded hotel project near the center of Downtown Houston.
Sugar Land-based Neway Hospitality plans to start construction next month on the Holiday Inn Express and Staybridge Suites property near the corner of Texas and Austin streets, just two blocks west of Minute Maid Park. The site is currently a surface parking lot.
The development, which is expected to be complete in 2025, will have traditional and extended-stay options, according to a release. Amenities will include an outdoor pool, meeting space, full-service bar, fitness center, business center and a dining area.
“Our main reason for building this hotel is the location based near Minute Maid Park and the George R. Brown Convention Center,” Ali Momin, president of Neway Hospitality, told the Houston Chronicle. He added that some of the amenities “will be grander than what you would see in our typical Holiday Inn Express and Staybridge Suites in and around suburbs.”
According to the Chronicle, the project will also include a roughly 3,000-square-foot Urban Street Market grocery store with a deli, coffee and bistro on the corner.
“There’s a lack of grocery store options in this part of downtown,” Momin told the newspaper. “This valuable addition to the downtown area perfectly complements the surrounding community and the extended stay Staybridge Suite Hotel situated at our location.”
Arriba Capital secured the ground-up construction loan for Neway.
“The Neway Hospitality group are experienced hotel developers, owners, and operators with a deep track record in the Houston market,” said Ryan Bosch, principal at Arriba. “The strength of the sponsorship, in conjunction with the…site in downtown Houston, made this financing possible in a difficult capital markets environment.”