Resort magnate John Q. Hammons to open Embassy Suites at Langtree development.
MOORESVILLE John Q. Hammons Hotels & Resorts plans to begin construction this year on a 300-room, 12-story Embassy Suites hotel and 75,000-square-foot convention center off Interstate 77's Exit 32.
Construction should start in late summer or early fall at the planned Langtree at the Lake development.
Hammons, 90, said Wednesday that he bought the land for the project four years ago because it is near the Lowe's Companies national headquarters off the soon-to-open exit.
The project also will be close to the nearly complete Interstate 485 beltway and the I-77/I-40 interchange in Statesville, Hammons said.
Langtree at the Lake partner Rick Howard said an east-west connector road (joining Langtree Road with N.C. 115 and N.C. 3) eventually will link the development to I-85 in Cabarrus County.
Hammons' Lake Norman project represents an investment of $75million to $85million, he said after a lunch meeting where he updated Mooresville and Iredell County officials on his plans.
“This will be an economic spark to our community,” said Rick Howard's son, Brad Howard of Langtree at the Lake.
Despite the economic downturn, Hammons has an easier time obtaining financing because of his longstanding reputation in the industry, said Scott Tarwater, executive vice president for development at the John Q. Hammons Hotels, based in Springfield, Mo.
Weather permitting, the Lake Norman project should open 16 to 18 months from the start of work, Tarwater said.
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