McKibbon Hotel Group announces project updates for BB&T building

From McKibbon Hotel Group

Press release

Asheville, NC (November 19, 2015) – McKibbon Hotel Group today announced several project updates for the well-known BB&T Bank building located across from downtown Asheville’s Pack Square. The project, which was unanimously approved by the Asheville Downtown Commission on Nov. 13, is being developed by John McKibbon, an Asheville homeowner whose first business venture in Asheville occurred 20 years ago, and chairman and president of Tower Associates, Glenn Wilcox, a resident of Asheville for more than 50 years. McKibbon and Wilcox are also currently building the AC Hotel and a 350-space garage with public access at the intersection of Biltmore Avenue and College Street, which is slated to open in 2016.

John McKibbon is an active member of the Asheville community by serving as a board member for the Buncombe County Tourism Development Authority and through his involvement with a number of local non-profit organizations. In addition, McKibbon is personally collaborating with local partners to address the shortage of affordable housing in the city of Asheville. Wilcox has been an integral part of downtown Asheville’s development and is active in the community through his involvement in the Better Business Bureau of Asheville and Western North Carolina, Mission Healthcare Foundation, Pediatric Brain Tumor Foundation, and the United Way of Asheville and Buncombe County.

McKibbon Hotel Group has selected Reese Vanderbilt & Associates of Atlanta, GA, as the project architect, a design-oriented architectural firm with vast experience in hospitality, mixed-use, and residential projects. The project, which was originally announced in 2013, is making progress to begin construction when the office leases expire in early 2016.

“We will transform the 50-year old tower into a beautiful structure that adds to the great architecture of this city,” said John McKibbon. The project will boast a contemporary design that also incorporates architectural elements from surrounding buildings in downtown Asheville. Warmer tones of stone that incorporate Asheville’s existing urban fabric will replace an aging steel façade. The tower will feature decorative metal panels and a prominent mural, which will both be created by local artists. The building will receive a new exterior skin featuring a mixture of glass and solid materials. The bottom, middle and top of the tower will each incorporate materials that contrast the glass, creating defined sections that add to the building’s design. Due to the location of the tower and its visibility from all sides, architectural elements of interest will be included on all four sides of the building, not just the front.

There will be numerous improvements made to the surrounding area, which will fully maximize the potential of the site. The new site design will enhance the urban environment by creating pedestrian-friendly connectivity and activation with widened sidewalks, outdoor dining and additional retail space along College Street.

When fully open and leased, the project will have a positive economic impact on the Asheville community. McKibbon Hotel Group expects the project to employ up to 100 full-time employees whose starting wages will meet or exceed the Asheville living wage. Property taxes will also increase substantially following the building renovations and change of use.

Detailed plans for the 18-st0ry development, which include McKibbon’s first independent hotel, consist of the following:

Restaurant, bar, and retail space for lease along Pack Square;
Retail spaces for lease along College Street;
Substantial modern meeting spaces, gym, and offices on the second and third floors;
Boutique hotel guest rooms on seven floors;
Residences on the upper floors, with adequate on-site storage for residents;
On-site parking for residents and guests and additional parking for hotel guests at the AC Hotel parking deck, which will include public parking.

In order to align with downtown Asheville’s commitment to local businesses, the retail space included in the project will not be leased to national chains. The hotel will be an independent brand with a unique interior design and a name that incorporates Asheville’s history. McKibbon Hotel Group will announce the new name of the hotel before the end of the year. Once the hotel is open,
room rates will be in the mid-$200 range.

About McKibbon Hotel Group
McKibbon Hotel Group is recognized as an award-­‐winning leader in the hotel development and management industry. Headquartered in Gainesville, GA, with its management company, McKibbon Hotel Management, located in Tampa, FL, the privately held company prides itself on decades of rich history and culture that promotes family values. Its operation portfolio consists of over 80 hotels in 13 states with 6 properties currently in development in the Southeast. With a focus on lifestyle properties, the company develops and manages nationally franchised brand hotels: Hilton Worldwide, Hyatt Hotels Corporation, InterContinental Hotels Group, Marriott International, Inc., and Starwood Hotels & Resorts Worldwide, Inc. For additional information on McKibbon Hotel Group, visit mckibbon.com.