Ackerman and Greenstone Secure Financing, Sign 20-year Franchise Agreement with IHG for Crowne Plaza Riverside Village Hotel in North Augusta, S.C.

    NORTH AUGUSTA, SC, February 02, 2018 /24-7PressRelease/ -- Ackerman & Co. and Greenstone Properties have broken ground and secured financing for the development of the new-build Crowne Plaza Riverside Village hotel - a five-story, 180-key hotel located within the Riverside Village mixed-use project in North Augusta, S.C., along the Savannah River. The partner companies have signed a 20-year franchise agreement with InterContinental Hotels Group (IHG ), one of the world's leading hotel companies.

Slated to open by the end of 2018, the hotel project - adjacent to the new Augusta GreenJackets' SRP Park - will feature modern rooms and suites, the Wood Fired Grill restaurant, an outdoor pool and event space, a fitness center, a rooftop bar, and more than 7,000 square feet of conference center and meeting space with a ballroom and several meeting rooms. A 417-space parking deck will provide hotel, ballpark and residential parking.

"This is an important milestone in the development of Riverside Village, a project that will provide outstanding amenities for visitors and the local community as well as a catalyst for further economic development," said Bob Pettit, Mayor of North Augusta.

The 30-acre, $200-million Riverside Village live-work-play development combines apartment, single and multi-family living, a vibrant town center featuring high-quality office space, premier national and local retailers, and diverse dining options, in addition to the new GreenJackets' ballpark.

"We're excited to partner with Greenstone Properties to provide the community with an incredible venue that will serve North Augusta's rapidly growing tourism and business base for years to come. We are especially grateful to the officials and citizens of North Augusta for their support in the planning for this hotel," said Kris Miller, President of Ackerman & Co.

Craig Mueller, Vice President, Development, The Americas at IHG, said, "As Riverside Village helps redefine North Augusta as a dynamic tourist destination and a great place to do business, the new Crowne Plaza hotel from Greenstone Properties and Ackerman & Co. will be the perfect place for guests to work and play."

Mueller added, "We value the commitment that the city of North Augusta, Ackerman and Greenstone Properties have made to embracing the design of this hotel, which will reflect a mix of traditional and contemporary themes. The building will represent a new style of architecture that complements the active lifestyle of today's business and leisure traveler, and will serve as a focal point connecting this vibrant area to the new GreenJackets stadium."

The new upscale hotel will cater to business and leisure travelers and offer the brand's innovative WorkLife guest rooms and Plaza Workspace flexible meeting spaces that are core elements of the Crowne Plaza Accelerate program - IHG's multi-year, $200-million transformation of the brand in the Americas region.

The hotel project team includes architects Rabun Rasche Rector Reese and Wakefield Beasley & Associates; general contractor Brasfield & Gorrie; and manager/operator NorthPointe Hospitality Management. State Bank & Trust provided construction financing and North Augusta Mezz Lender LLC, a Chamire Holdings-led group, supplied mezzanine financing.

About Ackerman & Co.
For information on Ackerman & Co., visit www.ackermanco.com

About Greenstone Properties
Visit www.getgreenstone.com

About the Crowne Plaza Hotels & Resorts Brand
For details, visit www.crowneplaza.com

About IHG
Visit www.ihg.com for more information

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