Carr City Centers Secures Funds for Development of Marriott Autograph Collection Hotel in Charlottesville, Virginia
WASHINGTON, D.C. August 31, 2016 - Carr City Centers, one of the most successful mixed-use acquisition and development companies operating in the Mid-Atlantic, announced today that it secured a $25.8 million senior loan from SunTrust Bank. The funds will be used to construct a Marriott Autograph Collection luxury boutique hotel in Charlottesville, Virginia. The new ten-story development will feature 150 guest rooms and suites, and is located at 1106 West Main Street in the heart of the city.
“This financing is a key step toward completion of the Marriott Autograph Collection Hotel, which enhances the city's vision of creating a more vibrant West Main Street,” said Austin Flajser, president of Carr City Centers. “The property will provide guests with upscale accommodations and generate a positive financial impact for Charlottesville.”
The hotel, which is located next to the University of Virginia main campus and adjacent to the University Medical Center, is expected to bring approximately 70 full-time jobs to Charlottesville. The property will be the finest full-service luxury hotel in downtown Charlottesville, providing on-site amenities including a premium restaurant, fitness center, 3,000 square feet of meeting space and a business center.
“Carr City Centers is building a beautiful hotel that will provide the option of premium accommodations for visitors to Charlottesville,” said Ken Broussard, Mid-Atlantic market manager for SunTrust Commercial Real Estate. “Carr City Centers is a leader in hotel development and we are pleased to help them bring this one-of-a-kind hotel to Charlottesville.”
Donohoe Construction Company will be the general contractor of the Marriott Autograph Collection hotel, which will begin construction in the third quarter of 2016 with a scheduled opening in the fourth quarter of 2017. Once development is complete, Donohoe Hospitality Services will manage the hotel's day-to-day operations while a joint-venture between Carr City Centers and Donohoe will maintain ownership of the property.
About Carr City Centers
Carr City Centers, LLC, based in Washington, D.C., is a privately held mixed-use acquisitions and development company founded by Chairman Oliver T. Carr, Jr. Since 1966, the Carr Companies have developed over 11 million square feet of office, retail, residential and hotel properties in Washington, D.C. and Northern Virginia. It currently has over $600 million in hotel properties under asset management. For more information, visit www.carrcitycenters.com.
Contact:
Andrew Agan
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(404) 816-2037
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
