CHARLOTTE — The developer of a planned InterContinental Hotel atop the restored Carolina Theatre told CBJ the project is moving ahead after a lengthy pause during the Covid-19 pandemic, with new renderings expected within the next month.
Nathan Kivi, U.S. chief investment officer at Salter Brothers, confirmed during an interview that he joined others involved in the project on a visit to Charlotte in April to look at the site on North Tryon Street — and to restart a project that was put on hold in November 2020.
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“When the debt market and Covid hit — the debt market for hospitality is still almost non-existent — but we’re sure it will be back in the next 12 months,” he said. “So, we’re in that phase now where we’ve ramped back up. We put it on hold for 18 months while we figured out what the rest of the world was doing.”
Salter Brothers is an Australian investment firm whose assets include an extensive portfolio of hotels around the world.
Kivi said the company hopes to start construction by next summer.
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