Business

Boutique hotel slated for NCSU's Centennial Campus

Posted July 9, 2014 12:58 p.m. EDT

— A boutique 155-room hotel will be built next to Lake Raleigh on North Carolina State University's Centennial Campus, officials said Wednesday.

The $28 million hotel, which also will include 7,500 square feet of meeting space, will operate under the Marriott Autograph Collection franchise and is expected to open in 2016.

“This hotel is the latest exciting addition to Centennial Campus," Chancellor Randy Woodson said in a statement. "Not only will it be a place of learning and collaboration but it will also serve as an important amenity for the campus."

N.C. State plans to use the hotel to attract regional, national and international conferences, particularly related to education, science and technology, officials said. The hotel also could enhance the industry, government and academic partnerships for which Centennial Campus is known.

The privately funded hotel will be built by a partnership of Arlington, Va.-based Concord Eastridge Inc. and Atlanta-based Noble Investment Group, two developers with extensive experience in hotel projects. N.C. State will lease the land to the developers, which will own and operate the facility.

Using the Marriott Autograph Collection will give the university and the developers the flexibility to design a property that reflects the N.C. State spirit while leveraging the Marriott brand and reservation system, officials said.