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Sarasota-Manatee
Business Observer Monday, Jan. 13, 2020 6 months ago

Developers break ground on $60M hotel next to convention center

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The $60 million project is expected to be completed in 2021.

PALMETTO — Improvement Network Development Partners, in partnership with global hotel management company Interstate Hotels and Resorts and Aimbridge Hospitality, broke ground on The Palmetto Sheraton at the Bradenton Area Convention Center Jan. 7. 

The $60 million project, adjacent to the Bradenton Area Convention Center, is expected to be completed in 2021, according to a press release.

The groundbreaking marks the beginning of a 20-month construction schedule. The eight-story, full-service Sheraton hotel — part of the Marriott International Inc. portfolio — is expected to open in September 2021.

The hotel was designed by architectural firm Sandvick Architects Inc. with interior design by Krause Sawyer. It will have 252 guest rooms, including seven suites. The hotel will also have a full-service restaurant, more than 10,000 square feet of meeting space (including a 7,600-square-foot ballroom), a rooftop lounge with a deck, a 1,500-square-foot fitness center, an outdoor pool and 32,420 square feet of outdoor event space.

"We are looking forward to seeing and celebrating the results of all of the efforts that have been being made behind the scenes for some time,” says Tony DeRusso, managing director of IN Development Partners, in a statement. 

Following its completion, the hotel is expected to connect via covered walkway to the Bradenton Area Convention Center, which is putting together plans for an expansion and renovation

“The Bradenton Area has been provided a great opportunity to set itself apart from other destinations across the state by further enhancing our urban core,” says Elliott Falcione, executive director of the Bradenton Area Convention and Visitors Bureau, in a statement. “Working with the City of Palmetto and IN Development Partners, I am confident this project will stimulate our local economy on a year-round basis, bringing jobs, and attracting more groups and meetings to an important area of the county.”

Jones Lang LaSalle has been retained as the construction management company for the project. Interstate Hotels and Resorts will serve as the hotel management company.

Improvement Network Development Partners is a real estate development firm based in the San Francisco Bay area.

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