Nov 2, 2016, 2:21pm EDT

A 133-room Homewood Suites planned in downtown Louisville is set to break ground next week and should open in early 2018, according to one of the project’s developers.

The eight-story, 105,000-square-foot hotel received its building permit from Louisville Metro Government Wednesday. Louisville businessman Tim Mulloy, one of the partners on the project, told me during an interview Wednesday that the general contractor, Louisville-based Calhoun Construction Services Inc., has started mobilizing equipment on the site, a surface parking lot at 631 W. Market St., between Sixth and Seventh streets.

The building permits lists construction costs at $18 million, but Mulloy said total development costs will likely be about $25 million.

The project is a collaboration between HBGM Partners — a company controlled by Mulloy and his brothers, Pat and Mark, that owns the property — and Louisville real estate developer Steve Poe of Poe Cos. Indianapolis-based real estate firm REI Real Estate Services also is a partner on the project with the Mulloys and Poe.

Homewood Suites is an extended-stay hotel brand and should appeal to business travelers and consultants doing longer-term business in the city, Poe previously told me. Unlike a typical hotel, Poe said, the rooms will be studio and one-bedroom suites and a few two-bedroom suites, and they all will have kitchens Planned amenities at this location include an indoor pool, a fitness center and a courtyard with a fire pit and grilling areas.

Homewood Suites is part of Hilton Worldwide Holdings Inc. (NYSE:HLT) and has another area location on Hurstbourne Trace in Louisville’s East End.

In addition to the Homewood Suites, Poe, White Lodging and REI have partnered to construct a 15-story, dual-branded hotel development at the northwest corner of First and Main streets.

Mulloy, who is a spokesman for that project, has said the first hotel is a Westin, which would have 220 rooms and would be comparatively traditional. Plans call for a first-floor restaurant, an 8,000-square-foot ballroom with room for 350 people, and a rooftop pool and bar that would overlook Waterfront Park.

The 80-room Moxy hotel would be a little edgier. Moxy is a new Marriott brand, self-described as a “boutique hotel with the social heart of a hostel.”

Mulloy has said that development could start accepting guests in 2019 and will cost about $80 million.

Poe has said that nearly all of his past hotel projects, which include the Louisville Marriott Downtown and the Aloft hotel at the corner of First and Main streets, have been partnerships with REI and White Lodging.

Marty Finley covers economic development, commercial and residential real estate, government and sports business.

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