BRISTOL, Va. – In the fall of 2016, one of the most prominent buildings in downtown Bristol, Virginia, will reopen its doors for business, although its planned use will be strikingly different from the past.
Executive Plaza, a vacant professional office building located adjacent to the Birthplace of Country Music Museum (BCM) and Cumberland Square Park, is undergoing an $18 million transformation that will convert the seven-story building into a 67-room, full-service boutique hotel to be known as Hotel Bristol.
Additionally, plans call for the city-owned public green space located directly in front of the planned hotel to be named Reynolds Park. The .225-acre park will pay tribute to Executive Plaza’s first developer, Dr. Hardin W. Reynolds, whose original purpose in constructing the building in 1925 — known at that time as the Reynolds Arcade Building — was to provide Bristol with a facility that would serve as the city’s preeminent downtown hotel.
Project developer/sponsor Marcus McCall, along with a host of city and state dignitaries, announced the project to community representatives during a special ceremony held Thursday evening at Cumberland Square Park.
“I am so pleased to have the unique opportunity to spearhead the rehabilitation of Executive Plaza, a building with a rich history that is intertwined with the city of Bristol’s own heritage, progress and growth,” said McCall, president and managing member of Greenville, South Carolina-based McCall Capital, LLC. “As a Southwest Virginia native, I have experienced firsthand the many venues, entertainment attractions and spectacular natural surroundings that make this area a destination for travelers. Hotel Bristol will provide the modern amenities and services visitors to this region expect in a first-class hotel. In essence, it will be a destination within a destination.”
In addition to providing high-quality lodging accommodations that feature both standard rooms and suites, Hotel Bristol will offer valet parking, an on-site restaurant and bar, rooftop cocktail lounge with spectacular views, deluxe spa, state-of-the-art fitness center, retail shops, and significant banquet and meeting spaces.
Charlestowne Hotels, a nationally recognized boutique hotel management company, will provide pre-opening services and will manage the hotel once it has opened.
“We are honored to have been selected to assist in the development and management of Hotel Bristol,” said Michael Tall, president and COO of Charlestowne Hotels. “The hotel will provide a truly unique guest experience in a location that cannot be replicated anywhere.”
The proposed Reynolds Park, subject to approval by the city council, will serve as a public park amenity for Hotel Bristol patrons, BCM visitors and area tourists. The enhanced space will feature first-class landscaping and streetscaping aesthetics, including evergreen ground cover, brick crosswalks, street lights, and decorative benches and seating. In addition, the park will continue to serve as home to the city’s annual Christmas tree lighting ceremony.
The Hotel Bristol project will be assisted by a No-Net-Loss Economic Development Grant Award of $1.2 million as approved by the Bristol, Virginia, City Council.
“It is exciting to see the adaptive reuse of the Executive Plaza building and adjacent green space,” said Catherine Brillhart, mayor of the city of Bristol. “This project puts a vacant property back into productive use and demonstrates the importance of our historic district in the city’s continued economic growth.”
Additional funding for the redevelopment project includes $750,000 in Tobacco Region Opportunity Funds awarded by the Virginia Tobacco Indemnification and Community Revitalization Commission (TICRC).
“The goal of the Virginia Tobacco Commission is to enhance the economic growth and development of communities within our footprint,” said Virginia Delegate Terry Kilgore, chairman of the TICRC. “This project will rehabilitate a historical downtown landmark and position it to become an integral part of the local tourism industry. Our support of this project reflects our belief in its ability to significantly impact our local and regional economies.”
An economic impact report prepared by Richmond, Virginia-based Mangum Economic Consulting states that, in its first full year of operation, Hotel Bristol will have an ongoing annual impact of approximately $6.8 million in local economic output. The hotel will create more than 80 full-time-equivalent local jobs, which will contribute to an impact of approximately $2 million on associated local salaries and wages.
In terms of construction, the project will have a one-time impact of more than $20 million in local economic output, produce 168 full-time-equivalent jobs, and generate $6.7 million in associated local salaries and wages, as well as $660,000 in additional state and local tax revenues.
In short, the report states that Hotel Bristol and Reynolds Park would have a significant and demonstrable positive economic and fiscal impact on the city of Bristol and Washington County (Virginia), along with the broader region’s emerging tourism industry encompassing 19 tobacco-dependent localities that are part of the “Crooked Road” heritage music trail in Southwestern Virginia.
Bristol, Tennessee-based BurWil Construction Company will serve as the general contractor for the project, which calls for extensive renovations and adaptations of the existing Executive Plaza structure.
About McCall Capital, LLC
McCall Capital, LLC, headquartered in Greenville, South Carolina, was formed in 1998 to strategically develop and acquire real estate investments in the Carolinas and Virginia with an emphasis on high-end, multi-family communities. The company’s primary business is development, acquisitions, portfolio/asset management and institutional sales. McCall and affiliates have developed and/or acquired approximately 4,000 apartment units valued at over $450 million. For more information, visit www.mccap.net.
BurWil Construction Company
BurWil Construction Company was organized in Bristol, Virginia-Tennessee in 1962. The company provides general contracting, design-build and construction management services for commercial, industrial, institutional and historic restoration projects. BurWil’s projects range from large, multi-million dollar complex facilities to small additions and renovations. Clients include Fortune 500 corporations, state and private universities, non-profits, developers, and state and federal agencies. The company has significantly expanded its Southeast area of operations.
About Charlestowne Hotels
Charlestowne Hotels, based in Charleston, South Carolina, is a full-service hospitality management company that currently manages hotels in 14 states. The company’s proficiency in managing a diverse portfolio of properties, including AAA Four Diamond-rated independent hotels and luxury boutique inns, has led to numerous industry accolades, including Condè Nast Traveler Magazine’s “Gold List” and “Readers’ Choice Awards,” World’s Best Awards (Hotels: Continental U.S.) by Travel Leisure, TripAdvisor Travelers’ Choice Awards: #1 and #2 Luxury Hotel in the U.S., Smith Travel Research’s “Best Performing Hotel in the U.S.,” as well as other national media and travel industry honors.
For more information, contact Marcus McCall,
president/managing member, McCall Capital, LLC, at 864-370-0037