INDIAN TRAIL – Town leaders are talking with developers about locating a hotel on an undeveloped 25-acre lot between Carolina Courts and East Independence Boulevard.
The property is divided by a creek that runs east to west, allowing for five to six acres on the north side for the hotel. The south side could support an apartment complex with upwards of 268 units.
Joe Scimia, senior vice president for The Sterling Group, shared preliminary plans of theses ideas with the Indian Trail Town Council on Oct. 9. Scimia wanted feedback before developers dove head first into the combined $90 million project.
Councilmen David Cohn and Marcus McIntyre tried to get guarantees of their own, specifically that the hotel would be built. Both had concerns about approving more apartments only for the hotel piece of the project to fall through.
“We don’t have a hotel in the town, so that’s a priority for council,” McIntyre said. “If a family comes in for sports, birthdays, weddings, whatever you have, we want them to be able to stay in Indian Trail.”
Scimia said the importance of the hotel has been stressed since day one. While market conditions can turn quickly when it comes to hotel development, Scimia said his firm will actively pursue a hotel on the site.
The Sterling Group intends on clearing the entire parcel and partnering with a hotel developer with experience managing them in Tennessee.
The hotel developer told council it’s not clear what kind of concept could wind up at the hotel, but he expects an average night may cost $120. He said it could take 30 months to open once the hotel gets its franchise branding.
On the other hand, the apartments could begin leasing within 18 months of approval.
Details about the apartments are skim since developers are early in the planning stage, Scimia said. The project will likely consist of two to three-story buildings with one, two or three bedrooms. Rent may span from $1,000 to 1,600 monthly.
David Niekamp, owner of Davco Properties, is assisting The Sterling Group and hotel developer with the property planning.
Niekamp told commissioners Oct. 9 that while Matthews may be the first place a hotel developer would look to put a hotel in the area, that town is built out. Indian Trail offers an attractive alternative.
“I can tell you from being in Charlotte 21 years doing commercial real estate that we have the ingredients here – for lack of a better term – for a good hotel location with having the sports complex and road network here,” Niekamp said.