by Matt Wright
It looks like a new hotel around the I-40 interchange is finally coming to fruition. According to officials at The Lake District, an agreement has been signed with Memphis based real estate firm Cohen Investments to build a new hotel.
The agreement to build a hotel in The Lake District comes after many months of research and negotiations says The Lake District developer Yehuda Netanel. “We’ve had many conversations with different hotel providers looking for the perfect partner,” said Mr. Netanel. He added, “We believe we’ve found that partner and we look forward to seeing their plans for a premium hotel experience for Lake District patrons.”
According to their website, Cohen Investments has over 50 years’ experience and has developed and owned hotels in seven states across the Mid-South and in the Northeast. The firm said they will build an upscale hotel along the I-40 frontage of The Lake District property, and it’s tentatively expected to have between 90 to 100 rooms. According to the developers it will also include an indoor pool, meeting rooms, fitness center rooms, and a bar.
Cohen Investments has a proven track record in the hotel business building established Hilton hotel brands like Hilton Garden Inn, Hampton Inn, Homewood Suites, and Home2 Suites. They also have experience with the Marriott brand Fairfield Inn & Suites and Town Place Suites. The firm is expected to announce which hotel brand they will be developing at The Lake District in the coming months.
According to both parties, the addition of a new hotel off the I-40 interchange will also help fill a need for automotive executives visiting the Ford Blue Oval City located in Haywood County, TN. The estimated drive time from the new hotel at The Lake District to the new Ford plant will be approximately 35 minutes.
Maggie Gallagher, Director of Development for the $400 million dollar mixed-use development, said the hotel agreement is another step forward to completing the vision of The Lake District. “As we’ve continued the buildout of The Lake District, hotels have become more and more interested in having their brands in the development,” Ms. Gallagher said. “We know this hotel will offer something very unique to their guest. Not only will it be conveniently located off the interstate with easy access to many points in the Mid-South, but guests can also walk to a variety of dining and shopping experiences,” she said.
