Early rendering of AC Hotel Tallahassee lounge

$150 million Cascades Project continues to deliver

TALLAHASSEE, Fla. – Aug. 14, 2019 – Developer Robert Finvarb Companies (RFC) closed this week on the land purchase for the future home of Marriott International’s AC Hotel Tallahassee, which will sit directly across from Tallahassee’s prized 24-acre Cascades Park. The seven-story, 154-room boutique hotel will cater to the next-generation, design-conscious business traveler, marrying sophisticated European style with a distinctly modern feel. The building permit is in hand and construction is already under way. The hotel is part of the $150 million mixed-use development at Cascades set to open in late 2020.

RFC purchased the hotel parcel from Cascades developer, North American Properties (NAP), per an agreement negotiated in Spring 2018. The location marks AC Hotels’ fifth in Florida.

“Cascades is the perfect fit for this upscale, urban lifestyle hotel brand because it places travelers at the center of life in Tallahassee,” said Robert Finvarb, president of Florida-based RFC. “In addition to providing easy access to downtown businesses and government offices, this dynamic destination will offer visitors a taste of the city, putting them just steps away from a range of local dining, entertainment options and historical spaces – all on the edge of a signature park.”

Finvarb has developed several Marriott-branded hotels, including the Residence Inn on Gaines Street and the AC Hotel Miami Beach, which was the first ground-up AC Hotel in the U.S. The AC Hotel Tallahassee will be Finvarb’s second AC Hotel, and his second hotel in the Big Bend.

The property will feature more than 5,000 square feet of flexible meeting space, a rooftop bar and an observation deck overlooking the park. The European-inspired AC Lobby will include high ceilings and an open staircase leading up to the AC Lounge, which will serve craft beers, signature cocktails, and tapas-style small bites. Stylish, yet efficient guest rooms, sleek furnishings, ambient lighting, hardwood floors, and intuitive in-room technology will offer discriminating guests a tranquil retreat at the core of a local hot spot.

Construction of the hotel is currently ongoing at a Metromont precast concrete factory in Bartow, Fla. In September, the walls of the building will be transported to Cascades and carefully lifted into place. NAP will also build the Cascades parking garage, apartments and office buildings using precast concrete, which represents the latest in construction technology and offers several key benefits to traditional concrete, including:

• Quality: Factory-controlled conditions and continuous monitoring minimize the risk of imperfections and ensure a high-quality finished product.
• Durability: Precast concrete walls can withstand standard weathering, as well as hurricane-force winds.
• Aesthetics: Project architects maintain vast flexibility with respect to building shapes, sizes, finishes, and flourishes.
• Sustainability: Thermal-resistant precast concrete saves energy by reducing the effects of temperature change on heating and cooling systems.

“NAP remains committed to being an innovative economic leader in Tallahassee, and we’re excited to deliver on our promise to create even greater vitality around Cascades Park,” said Shawn McIntyre, NAP managing partner. “The city and county cast the vision for the park and the surrounding area more than a decade ago, and now it’s all coming together. From starting construction on high-quality, sustainable buildings to refurbishing historical structures to the interest we’re getting from well-established restaurants and retailers – the anticipation only continues to
mount.”

For more information about the Cascades Project and to subscribe for email updates, visit CascadesProject.com.

ABOUT THE CASCADES PROJECT
The Cascades Project – Tallahassee’s largest economic development initiative in recent history – will bring a vibrant live-work-play experience to a two-block area on East Gaines Street, directly across from the 24-acre Cascades Park. In addition to generating more than $350 million in economic impact and creating nearly 700 permanent jobs, this transformative urban development will honor the area’s rich history through the preservation of the architecturally significant former County Health Unit, the restoration of the Old City Waterworks building, and the creation of a community-envisioned historical plaza. Additional project components include market-rate mid-rise residential, retail, office, restaurant and hotel space built to maximize views of the park and the Capitol building, along with pedestrian-friendly paths connecting the development to downtown, a range of public amenities, event space to support performances at the Capital City Amphitheater, and nearly 800 parking spaces. The Cascades Project development team consists of local, regional and national partners including Broad and Cassel, DAG Architects, Genesis Engineering, The Taproot Agency, and Baker Barrios Architects. For more information visit CascadesProject.com.

ABOUT NORTH AMERICAN PROPERTIES
Founded in 1954, North American Properties (NAP) is a privately held, multi-regional real estate operating company that has acquired, developed and managed retail, multifamily, mixed-use and office properties across the U.S. The company also holds extensive experience developing successful mixed-use projects surrounding public parks, including the Historic Fourth Ward Park in Atlanta and Centennial Park in Nashville. With a full-time staff working out of its Tallahassee office, NAP has invested more than $150 million in large-scale, mixed-use developments in Tallahassee since 2013, specifically in the Gaines Street District. These projects have collectively created more than 800 construction jobs and nearly 200 permanent ongoing jobs, with a total annual economic impact of more than $17 million. For more information visit naproperties.com.

ABOUT ROBERT FINVARB COMPANIES
Robert Finvarb Companies (RFC) is a private real estate investment and development company based in Miami, Florida. Founder Robert Finvarb started his development career in 2002 and has been a pioneer in developing mixed-use, urban, select-service hotels in high-barrier-to-entry markets throughout the United States. RFC has developed projects in excess of $1 billion in market value, containing more than 3,000 hotel rooms that are affiliated with Marriott, Hyatt and Choice International and are in seven states and the District of Columbia. For more information visit RobertFinvarbCompanies.com.

ABOUT AC HOTELS BY MARRIOTT
AC Hotels by Marriott® is an upper-moderate tier lifestyle brand within the Marriott International, Inc., global collection of 19 brands. AC Hotels properties feature clean, simple and crisp lines, marrying sophisticated European style with a distinctly modern feel. The AC Hotels brand was born from the vision of renowned hotelier Antonio Catalan, who founded the brand in 1998 and grew it into one of the most well-respected hotel brands in Spain. Following its success in Europe, a joint venture was formed with Marriott International in 2011, which launched AC Hotels by Marriott globally into France, Turkey, Italy, Portugal, Denmark and the U.S. Today, the brand boasts more than 120 hotels in 15 countries and territories, including more than 40 properties in the U.S. For more information visit achotels.marriott.com.

ABOUT METROMONT
Metromont is a pioneer and the East Coast leader in the engineering and manufacturing of precast concrete for commercial construction, including multi-family, schools, offices, parking garages, mixed-use, stadiums, data centers and more. With six manufacturing facilities across five states, the company has completed more than 1,000 parking decks, more than 8 million square feet of all-precast data center space, 50 stadiums (including seven for the NFL), and 15 sports arenas, as well as numerous multi-family and student housing facilities. For more information visit metromont.com.

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