Developer Secures Loan To Break Ground On $93M Mount Vernon Triangle Hotel
A new hotel is expected to begin construction this month in Mount Vernon Triangle.
Birchington LLC, an entity owned by Habte Sequar, announced Monday it secured a construction loan from Atlanta-based Stonehill Strategic Capital for a $93M hotel project at 317 K St. NW.
The planned 14-story hotel would include 247 rooms with the Holiday Inn Express flag. BBGM Architects designed the project, Kinsley Construction is the general contractor and Urgo Hotels & Resorts will operate the hotel. The development team plans to break ground this month and deliver the hotel in Q4 2020.
The site at the corner of Fourth and K streets NW was previously home to the Henry's Soul Cafe. It sits about four blocks from the Mount Vernon Triangle Metro station and the Walter E. Washington Convention Center.
The developer has been planning the project since 2015 and originally envisioned 30 apartments above 200 hotel rooms, but later pivoted to a pure hotel play.
The project is one of several hotels planned that could bring hundreds of new rooms to the Mount Vernon Triangle neighborhood. Douglas Development broke ground recently on a 234-room AC by Marriott hotel at 601 K St. NW. Kline Enterprises is planning a 152-room hotel at 925 Fifth St. NW.