$11,000,000

This property already has entitlements for two new six-story hotel buildings totaling 274 hotel rooms, underground garage with mechanized parking. This site is composed of 2 three quarter acre lots next to each other, 295 & 247 Commercial Street, making it 1.5 acres. The lots have a significant amount of local drivers. They are across the street from Apple's new campus on Central & Wolfe. Other local drivers include Applied Materials 50+ acre campus, an Amazon Warehouse, and Texas Instruments Convention Center. The two hotels approved and planned for the lots are a Tempo by Hilton and a Home 2 by Hilton. Hilton's Tempo is an upscale select service hotel and is boutique in nature. It will have just under the same amount of amenities as a more standard full-service hotel. The hotels restaurant will serve an upscale menu and the bar will be full with tapas style small bites. The courtyard patio will be plentiful in space for guests to enjoy. The meeting rooms too will have a bounty of space close to 1200 square feet. The extended stay hotel will be a Hilton Home2. The Home2 brand is one of the strongest extended stay brands in the United States. This courtyard will be ample too and there is adjacent lobby open space. The meeting room will be humble with space for up to 8 people. We expect this hotel to appeal to a wide range of business & tourist travelers. 295 Commercial Street has one existing unit that is 4800sq feet and 247 Commercial Street has an existing unit that is 4800 square feet. Zoning is MS (manufacturing and services)