Development

Developers still planning to start EpiCentre hotel tower this year

Vision Ventures and McKibbon Hotel Group are still planning to start construction this year on a dual-branded, 20-story hotel tower above the EpiCentre complex uptown.

I checked in with Vision Ventures after a reader saw people walking the EpiCentre’s roof and asked if the start of construction is imminent. The companies had previously said they expect to start construction in early 2015.

Paul Picarazzi, a principal at Vision Ventures, told me the companies are still working on their construction schedule and plan to start sometime in 2015.

The hotel tower is set to house two Marriott-branded properties. One will be a 120-room Residence Inn and the other would be a 182-room AC Hotel. Both are planned to open in 2017.

The EpiCentre already has an Aloft hotel, and it’s across the street from the Omni Charlotte and the Ritz-Carlton. Other nearby hotels include the Hilton Charlotte Center City and the Hyatt House.

Vision Ventures and Mount Vernon Asset Management sold the EpiCentre last year for $130.5 million to CIM Group, a Los Angeles firm, after buying the entertainment complex’s $94 million construction loan in 2010.

Portillo: 704-358-5041;

Twitter: @ESPortillo

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