KNOXVILLE, Tenn. (WATE) — Another hotel in Knoxville’s Old City might soon be in the works, depending on the outcome of another major development proposed nearby. A local developer who owns hotels in Knox and Sevier counties says he’ll invest millions for the hotel’s construction downtown if the multiuse stadium is approved.
Local developer Nick Patel has announced that he will build a 127-room SpringHill Suites by Marriott in Knoxville’s Old City if the proposed baseball stadium and multi-use facility is approved. Patel also said he will invest $22 million.
“I’m excited about the growth of downtown Knoxville,” Patel said in a media release. “The stadium is a much-needed element to help refresh and revitalize the Old City. It brings a great new energy, and I want to contribute to the momentum.”
Patel said the five-story, $22 million hotel “will be designed to have an upscale, historic feel similar to other buildings in the Old City; it also will complement the design of the proposed stadium.”
A media release also stated Patel already acquired the land needed for the project: a half-acre lot next to Barley’s restaurant and bar on Jackson Avenue, and a one-acre lot across the street for parking.
Patel is a University of Tennessee alumnus and president of TCH Knoxville, LLC, which owns seven other hotels in Knox and Sevier counties. Patel’s company, Old City Ventures, will develop the new SpringHill Suites by Marriott.
“Knoxville is my home,” Patel said. “I grew up in Strawberry Plains, and this place is close to my heart. Like my local mentors, David Dewhirst, Mark Heinz and Tim Hill – who laid a lot of groundwork towards Knoxville’s growth–I am thrilled to be a part of our city’s continued success.”
Patel said the stadium would be a huge addition to the city and help contribute to Knoxville’s family-friendly downtown environment.
“This is a really important decision for Knoxville,” Patel said, referring to the stadium project that now is being considered by the Knoxville-Knox County Sports Authority and must be approved by Knoxville City Council and Knox County Commission.
“I am committed to bringing the hotel if the stadium comes,” he said.