LOUISVILLE, Ky. (WDRB) – Local investors plan to break ground this summer on an 8-story, $23 million Homewood Suites extended-stay hotel at the corner of 7th and Market streets.

Slated to open in late 2017, the Homewood Suites is the latest in a downtown hotel building boom fueled by bourbon-related tourism and the planned expansion of the Kentucky International Convention Center.

Louisville developer Steve Poe, whose projects include the Aloft and Marriott downtown hotels, described the Homewood Suites plan in an interview Wednesday alongside lawyer and businessman Tim Mulloy, a partner in the venture.

Mulloy’s family owns the site at the northeast corner of 7th and Market streets. It has been a surface parking lot for nearly two decades, Mulloy said.

The hotel plan is “great for the city,” said Mulloy, who is also chairman of the Downtown Development Review Committee.

“It takes another (parking) lot off the market that most people, honestly, would consider an eyesore,” he said.

The Homewood Suites, a Hilton brand, will target business travelers such as consultants on extended engagements with downtown companies, Poe said.

“On the weekend, it converts really well for families because every room has a kitchen,” he said.

Poe said the hotel will also appeal to people in town for a week or longer to run conventions, which are expected to increase once the convention center expansion is complete.

“We love the location,” Poe said. “We’re within a block of Main Street, which gives us the leisure travel, and then we’re two blocks from Humana, PNC Tower, Aegon Tower – so, we like that for the business guy, too."

The hotel will include an indoor pool, fitness center and a courtyard with a fire pit, Poe said.

The Homewood Suites will be managed by Merrillville, Ind.-based White Lodging, which manages the downtown Marriott and Aloft, among other Louisville hotels, Poe said.

Other partners in the venture include REI Real Estate Services and Mulloy’s brothers Pat and Mark.

The hotel project will not include a parking garage. Poe said the developers are talking with the Parking Authority of the River City about using excess spaces in the city-owned garage at 120 S. 6th Street, which has plenty of capacity on nights and weekends.  

Louisville currently has one Homewood Suites in eastern Jefferson County.

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