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Results Through Collaboration

Franklin Street Completes $14M Hotel Construction Project on Fla. Gulf Coast

Hampton Inn Dunedin Florida 457x296
Published: Jul 01, 2019
Franklin Street, a full-service commercial real estate firm, has completed a 15-month construction management project for a newly-built, 88-key hotel in Dunedin, Fla., which opened on June 20, 2019.  The firm’s Project Management group oversaw every aspect of the $14 million state-of-the-art waterfront hotel, which will carry a Hampton Inn and Suites flag. 

Franklin Street was hired by AV Florida Hotel, LLC to serve as project manager for the property at 2641 Michael Place. The firm’s responsibilities included project planning; design management; furniture, fixtures and equipment coordination; construction management; procurement management; and budget and schedule management. 

Franklin Street’s project management team, spearheaded by Patrick McGucken out of the Tampa office, also communicated regularly with the property owner and design team to explain all required consultant services and to closely manage project costs and schedules. The new Hampton Inn Dunedin features spacious guest rooms with private balconies and ocean views, 24-hour business center, meeting room, fitness center and an outdoor saline pool. 

“With this construction project, AV Florida Hotel, LLC has established Hampton Inn’s prominence as one of the prime hotel lodging properties in this area of the Gulf Coast, providing much needed hotel rooms within close proximity of Honeymoon Island State Park,” said Franklin Street’s McGucken, vice president. “The client was impressed by Franklin Street’s ability to make this project a reality by collaborating across various business lines and bringing added value to their asset. Our team is proud to have partnered with them on this project.”

In addition to overseeing project management for the ground up construction of the hotel, Franklin Street Capital Advisors arranged debt and equity development financing for the project. Franklin Street Insurance Services also provided the builder’s risk and general liability insurance policies, while Franklin Street’s Landlord Representation team works to find a restaurant tenant for the remaining outparcel.

Hampton Inn Dunedin is located minutes from some of the Florida Gulf Coast’s most beautiful beaches. The property is just a 10-minute drive from beautiful Honeymoon Island, where guests can take the ferry to the pristine sands of Caladesi Island. The hotel is also close to several local restaurants, microbreweries and Dunedin Stadium, home of the Toronto Blue Jays spring training.

About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.
 
Credit:
Source: Construction Dive
URL: https://www.constructiondive.com/