AVIA hotel

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The AVIA-flagged hotel and abutting 24,000 sf of retail willbuild out the 34-acre mixed-use project of Trademark Property Co.of Fort Worth. Terry Montesi, Trademark's CEO, says there are nosigned tenants as yet for the retail space.

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"We bought out our financial partner Kimco a couple of monthsago on this," Montesi adds. "This is a long-term hold for us."

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The AVIA hotel is being co-developed by LodgeWorks LP ofWichita, KS and Open Hospitality Partners of New York City. MichaelDaood, LodgeWorks' vice president, says the Woodlands location at9595 Six Pines Dr. is an ideal location because it meets therequirements for a seven-day-a-week market with a good mix betweencommercial and leisure demand. And, he adds, it's an upscalelocation.

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"We're motivated by finding the right sites for AVIA and makingsure they're appropriate for the quality of hotel we're trying tobuild," Daood explains. "We're not on a goal to turn out five ayear. We're just trying to ID the appropriate sites and land we canbuild on." AVIA hotels are operating in Savannah, GA and Napa andLong Beach, CA.

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An AVIA hotel typically costs north of $250,000 per key tobuild, but Daood points out that the Woodlands project is somewhatunique because of size. "Typically we're in the 140 to 160 [room]sweet spot to keep it a boutique. We were limited in the Woodlandsto 70 rooms," he says, adding "we liked the site and loved thesetting" so the decision was made to proceed.

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Law/Kingdon Inc. of Wichita is the project architect and ElPaso-based CF Jordan LP's Houston team is the general contractor.LodgeWorks will manage the hotel once it's completed.

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Daood tells GlobeSt.com that the Woodlands' AVIA is LodgeWorks'entry into Houston, but he hopes it isn't the last. "We'd love tocontinue to develop more in Houston," he says.

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