An Atlanta-based hotel developer bought the East Nashville site where it is planning a Marriott hotel. Dream Capital paid $5 million for a 1.41-acre property near the East Bank, located at 751 S. Fifth St., where it is eyeing an eight-story, dual-branded Marriott hotel. The seller was Professional Services Inc., which paid $58,290 for the site in 1991.

The project has a 2-level parking podium with 6 levels of hotel space above. Dream Capital’s hotel will offer 265 rooms. The third level will include an outdoor amenity area with a pool, fire pit and outdoor dining and seating areas. The ground level of the building will offer around 7,000 square feet of retail space.  Levels 4-8 include rooms for the two hotel brands as well as a rooftop bar amenity.

Nashville-based Kimley-Horn and Charlotte-based Oda Architecture are leading design for the project. The proposed hotel sits near the new Nissan stadium and other big East Bank projects.

Nashville is expected to be home to a new dual-branded hotel. Dream Capital Management has filed plans with the Metro Planning Department to build an eight-story project that will include two Marriott-brands, on Fifth Street near the East Bank.

Plans indicate the third level will include an outdoor amenity area with a pool, fire pit and outdoor dining and seating areas. The ground-level of the building will offer around 7,000 square feet of retail space.

Nashville-based Kimley-Horn and Charlotte-based Oda Architecture are leading design for the project.

Professional Services Industries owns the 1.41-acre property, located a short drive from the new Tennessee Titans stadium project. The company paid $58,290 for it in 1991.

The site currently houses a one-story brick building, which is home to the local office of global firm Intertek, which provides services related to research, development and manufacturing.

Dream Capital also has hotels in Georgia, Alabama, Chattanooga and Knoxville.

The Dream Hotel developer says a demolition permit is needed and it has not been approved by the health department. Construction cannot begin without that approval. The hotel is to be built on top of the former Royal Furniture Store on South Main. The project is expected to cost $99 million.

The developer, 18 Main, is now asking that the building permit be pushed back to September of 2024 to give them time to get the permit. The Dream Hotel is currently listed as a pending case before the Land Use Control Board. A public notice has been sent out to nearby residents, and signage is posted at the project site. The decision will be made later this week.

Details show the new 11-story hotel will feature seven levels of hotel rooms, three floors of apartments, and ground floor restaurant and bar space. Dream Hotels is now a Hyatt brand.