Noble Investment Group has announced plans to construct a 55,082-square-foot StudioRes by Marriott hotel in the Collins Town Center, located north of Costco Wholesale. The four-story extended-stay hotel will feature 124 rooms and is expected to cost just under $10 million. This affordable brand is part of Marriott’s portfolio.
According to reports from the Jacksonville Business Journal, Noble purchased the land for this project at 8045 Parramore Road last summer for $2 million. In addition, they also acquired the Courtyard Jacksonville Beach Oceanfront in July for $26.1 million and have enlisted McKibbon Hospitality of Tampa as its manager.
The first StudioRes branded hotel was recently groundbreaking on Fort Myers property in January by Marriott International with development being handled by Concord Hospitality. This Southwest Florida location is set to open its doors in spring 2025.
Noble has ambitious plans for their hospitality group with intentions to develop up to 50 StudioRes properties across various submarkets within major U.S cities that cater specifically towards short-term rentals exceeding a minimum stay of twenty days.
