Veteran Charlotte real estate developers Allen Tate Jr. and John Crosland Jr. announced Tuesday that they are working on a new hotel project with up to 300 rooms on a parcel just behind Sharon Corners Shopping Center.
The two longtime developers will build on 3.65 acres on Sharon Road, just south of Fairview Road. The 40-unit Old Towne Apartments, which Crosland and Tate built in the 1960s, will be torn down, according to a news release.
The developers are in final negotiations with “a leading international hotel company,” the release states. The dual-branded project will feature a limited service and an all-suites hotel.
The two hotel brands could share a lobby and possibly other areas, said Julianne McCollum, a spokeswoman for the developers.
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The developers filed a rezoning application Monday and hope to start construction early next year. The project would be completed in early 2016.
“There is a strong demand for new hotel rooms with the resurgence in growth in the SouthPark area,” said Adam Ford, general manager for Crosland.
Added Tate: “For more than 50 years, the Tate and Crosland names have been synonymous with quality development. This latest project will continue that tradition of excellence.”
Projects the two developers have collaborated on over the years include retail centers at Sharon Corners and Foxboro East, as well as the Foxboro and Kingswood residential neighborhoods.
The SouthPark area has seen several major developments within the past year.
Developer Johnny Harris in November announced his firm is building two 10-story office towers behind Piedmont Town Center, at Carnegie Boulevard and Congress Street.
And last summer, developer Peter Pappas’ firm held the topping-out ceremony for a five-story office building that will be part of the roughly $95 million Sharon Square mixed-use development at Fairview and Sharon roads.
The building will serve as a regional headquarters for SunTrust bank.
Before 2013, the last new office construction SouthPark had seen came in the third quarter of 2007, when the 125,000-square-foot Carolinas Medical Center Morrocroft facility was finished, according to Karnes Research Co.