6-14-07 Germantown to approve 127-room Hyatt Place by Silver Companies in Germantown Tenn.

THE COMMERCIAL APPEAL

Thursday, June 14, 2007

Germantown is in the process of blessing a 127-room Hyatt Hotel near the corner of Winchester and Forest Hill-Irene in the suburb's southeast corner.

The hotel, situated on almost 11 acres, will provide rooms to a growing office and business corridor, plus benefit the city revenues with sales and hotel-motel taxes. Additionally, it helps with a future stabilization of the corridor.

"A high-quality project like this will be a good addition to Winchester," said Josh Whitehead, Germantown's planning director. "It will create a sustainable design. That's what Winchester needs -- designs and projects that will last. And that's what we, as a city, are looking for on our short stretch of Winchester, sustainable businesses."

The Silver Companies, which has offices in Washington and Boca Raton, Fla., announced its plans for the $22 million Hyatt project in October.

The site already had the necessary commercial zoning for the hotel, and the Planning Commission endorsed the site plan earlier this month. The next stop on the Germantown's review tour is at the Design Review Commission on June 26.

Germantown annexed the area in 2000, and controls three of the four corners at Winchester and Forest Hill-Irene.

The junction is in the process of developing. In addition to the hotel plans, the area surrounding the southeast corner contains banks and offices, such as the Better Business Bureau and ThyssenKrupp. On the southwest corner, which is in Memphis, John Elkington, president and CEO of Performa Entertainment Real Estate, has announced plans for an upscale commercial and entertainment project.
And the intersection is only a short distance north of the Bill Morris Parkway.

The expected development of the corridor could create a demand for hotel rooms, but existing uses also create lodging demand.

The hotel site is between the FedEx World Headquarters at Hacks Cross and the FedEx World Tech Center in Collierville. To the south, the Mike Rose Soccerplex draws tournaments with players needing rooms.
Andy Pouncey, a Germantown assistant city administrator, said with the number of offices, the city would like to encourage those lodging dollars to stay in the suburb.

"That's an area where we're hoping to attract corporate business," Pouncey said. " ... That's a great place for them to stay.

Then there are the annual events such as this week's Germantown Charity Horse Show and last week's Stanford St. Jude Championship at the nearby Tournament Players Club at Southwind. Many lodging outlets in the area hung the "no vacancy" signs during the golf tournament last week as players, their entourages, media and spectators descended on Southeast Shelby County. Homewood Suites said all of their properties within an 8-mile radius were booked for the golf tournament.

Having the Hyatt at Southwind's southeastern doorstep will be a benefit.
"Anytime you can book a block of rooms at a quality hotel a mile from the golf course, it's a significant advantage," said Phil Cannon, SSJC tournament director.

-- Clay Bailey: 529-2393

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