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A New York-based hotel management company has announced plans to open a Dream Hotel in downtown San Antonio in 2023.
Dream Hotel Group made its announcement on Monday via a press release and design rendering showing a towering glass structure situated next to a bridge over the River Walk.
The spokeswoman said construction on the project will begin in 2021 but would not confirm the exact location of the planned hotel. A press release describes it as “centrally located, and architectural renderings show a site along the River Walk.
However, a source with knowledge of the project told the Rivard Report the hotel will be located at 107 E. Martin St., near the corner of Soledad. A one-story commercial building currently occupies the site and is home to a nightclub, V Lounge. The Wyndham San Antonio Riverwalk is situated across the street.
The hotel group and its development partners have not submitted its conceptual designs for approval from the City of San Antonio’s Historic and Design Review Commission, a step that would be required before construction could begin.
The boutique hotel will feature 217 guest rooms and suites, multiple dining and nightlife venues, a rooftop pool, fitness facilities, and meeting space overlooking the San Antonio River, according to the press release. Massachusetts firm CUBE3 Architects was named as the conceptual design team.
The release further stated that its location in a federally designated opportunity zone adds to the “financial feasibility and attractiveness” of the development. Developers who invest in opportunity zones are eligible for tax reductions on capital gains.
Dream Hotel Group manages properties in New York, Los Angeles, Miami, Bangkok, and Nashville, and owns five hotel brands: Dream Hotels, Time Hotels, The Chatwal, Unscripted Hotels, and By Dream Hotel.
Properties in the Dream Hotel brand, billed as a hotel for global travelers who desire built-in nightlife and ultra-modern amenities, are located in several major U.S. cities and abroad, with a new one planned for Dallas.