July 22, 2015

Offices, Hotel Sought for Ridgeway Center

– The Commercial Appeal –

Boyle Investment Co. is planning to build a new office complex and hotel in the Ridgeway Center.

Although details are sketchy at the moment, Boyle senior vice president Mark Halperin confirmed the project.

"We’re negotiating, involved in preliminary discussions with an anchor tenant for the office building. And we’ve been talking to several different hoteliers about locating on the property," Halperin said. "It’s a continuation of our Ridgeway Center development, which we’ve been doing for a long time."

The two projects would be built near the current Sedgwick building, on a 28 acre site along the Ridgeway Loop at Shady Grove and Briarcrest.

Halperin was hopeful that the two projects – which he believes can be built concurrently – cold be under way early next year and completed within 12 months. Halperin said a cost estimate for the projects was not available.

However, nothing is confirmed yet, with Halperin admitting that the lack of an anchor tenant could doom the office building.

"We’re pretty committed, but we’ve got to have an anchor nailed down," he said.

The office complex would probably be composed of two buildings, both between 100,000 and 150,000 square feet.

The hotel, which would probably have more than 100 rooms, has not been linked with a franchise yet. If realized, the hotel would join an existing network of several nearby hotels, including the Adam’s Mark at 939 Ridge Lake Blvd., the Embassy Suites at 1022 S. Shady Grove and the Courtyard by Marriott at 6015 Park.

Last December, the Land Use Control Board approved several changes to the Sedgwick site to allow developers more leeway in the design of offices and other uses of the property.

The changes include modifying the list of permitted uses, redistributing the permitted maximum floor space, increasing building heights and modifying building setbacks.