Chicago-based Phoenix Development Partners is gearing up to expand the hospitality scene near San Antonio's Pearl district with a new eight-story Residence Inn. The sprawling 175-room hotel is set to emerge on the southeast corner of Alamo and Grayson streets, a locale that's been on a steady climb as a mixed-use, multi-faceted neighborhood. This development represents a tangible push towards lodging diversity in an area already known for its robust culinary and retail offerings.

Planned to break ground this November, the $37 million project will encompass a sizable 119,000 square feet, according to the Texas Department of Licensing and Regulation. Amenities are poised to include a first-floor bar, dining area, and elements for leisure such as a courtyard and pool. The hotel is projecting a completion date around June 2026. Phoenix Pearl LLC, tied with the developer, has secured the property, once in the hands of GrayStreet Partners, a name associated with the forthcoming Broadway East neighborhood that's anticipated to bring a vast suite of retail and office spaces.

Neither Phoenix’s founder, John Mangel nor Kevin Covey of GrayStreet Partners were reachable for comments on the new hotel venture. The growth in the vicinity has been notable, with corporate headquarters cropping up and foodie havens solidifying Grayson Street's status as a culinary hotspot. Major projects like Credit Human's tower and the blossoming Jefferson Bank building have contributed significantly to the area's corporate footprint.

The planned Residence Inn will join a host system intended for extended stays, and will offer private kitchens as well as complimentary grocery delivery services, particularly appealing to those planning longer visits. In the wider spectrum of accomodations, Hotel Emma has stood as a solitary high-end lodging option. However, with this addition, affordable alternatives will come into play, diluting the strain on Emma's plush rooms, which can range from $600 to $800 for a weekend stay according to the hotel's website.

Oxbow has also thrown its hat into the ring with The Grove, another hotel incoming at 1210 E. Elmira St., standing in contrast to Hotel Emma's luxury, offering "absolutely beautiful, high quality, but not to that level of quality or service," as Bill Shown, Oxbow’s CEO, told the Report last year. Moreover, the McCombs family is circling the wagons around a mixed-use community slated to feature another hotel along the River Walk.

Amid all this brisk developmental pace, San Antonio's urban core doesn't appear to be left wanting. Merritt Development Group from Austin plans to erect yet another Residence Inn on the home turf at 100 N. Main St. David Merritt, president and owner of the firm, expressed confidence in the city's hospitality sector, reiterating his bullish stance and the historical strength of the market, despite the recent underscored occupancy rates in downtown hotels, as he communicated to the Report earlier.

Phoenix Development, established in 2014, brings with it the experience of its founder Mangel, a past Disney "imagineer," and is concurrently running hotel projects across Dallas, Milwaukee, and Chicago. As each of these projects steadily progresses towards fruition, the evolving silhouette of San Antonio's hospitality landscape becomes a testament to the city's enduring appeal for both visitors and investors alike.