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BRIEF: After delays, Hotel Van Zandt project in works again (Austin American-Statesman)

By Shonda Novak, Austin American-StatesmanMcClatchy-Tribune Regional News

May 04--After a delay of more than six years, developers now say construction is due to start in June on Hotel Van Zandt, a project that will rise 16 stories at Red River and Davis streets on downtown Austin's eastern edge.

The 322-room hotel is being built at a cost of more than $90 million, with financing by Bank of America. The developer is JMI Realty LLC. San Francisco-based Kimpton Hotel and Resorts will manage the hotel when it opens in the first quarter of 2015, said Greg Clay, JMI's chief investment officer.

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(c)2013 Austin American-Statesman, Texas

Visit Austin American-Statesman, Texas at www.statesman.com

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