Radford University announces plans for hotel near campus
Radford University, in collaboration with the Radford University Foundation and the City of Radford, has announced plans to build a hotel in close proximity to campus. The hotel, which will be located at the intersection of Tyler Avenue and Calhoun Street, will be constructed on land owned by the Radford University Foundation. Four existing structures will be demolished to make way for the hotel, which will include 125 rooms, a conference center, a rooftop restaurant, and on-site parking.
Radford University President Brian O. Hemphill, Ph.D. said, “The hotel will provide amenities not available at current area hotels and a proximity to campus that cannot be matched. I am confident that our campus will serve as a wonderful backdrop for area visitors and University guests. Imagine standing on the top floor of the hotel in the rooftop restaurant and seeing the beauty and excitement of our campus.”
City of Radford Mayor David Horton said, “We are excited to welcome a new world-class hotel to the City of Radford on Tyler Avenue. This facility will serve as a great complement to the hotels and restaurants in Radford and will provide options currently unavailable to guests and citizens alike. The rooftop restaurant will offer unmatched views of not only the campus, but the beautiful vistas of the City of Radford and the New River Valley. The economic impact of bringing this new business to Radford will be tremendous, and we will benefit as a community not only from the outstanding amenities that this new hotel and conference center will provide, but also in the jobs and revenue that will be generated. Businesses across Radford will benefit from the guests joining us who presently stay outside the city and with the special events and conferences that will come to our community once the facility opens. This is a big win for our fair city and another great step as we revitalize and support the business community in Radford.”
The University is collaborating with JLL, a commercial real estate services firm and the second-largest company of its kind in the world. As a Fortune 500 company, JLL will provide professional services and needed assistance with project definition and implementation as the University works closely with the Radford University Foundation Board of Directors and Foundation staff, as well as the Radford University Real Estate Management LLC Board of Directors and officials from the City of Radford.
Radford University Foundation Chief Executive Officer John F. Cox, Jr. said, “Like many people in the Radford University community, I am personally excited about the hotel project on Tyler Avenue. Feedback from the Foundation Board and the Real Estate Management LLC Board has been very positive. The Foundation has engaged JLL to assist both the Foundation and the University during this process, and we have been very pleased with this partnership. Our goal is to bring a top-quality hotel to Radford by 2023, as expressed by President Hemphill during his State of the University Address on October 25, 2019. Our goal is to turn the President’s vision into a wonderful reality for the benefit of the entire Radford University community.”
The hotel will be included in the University’s 2020-2030 Master Plan, which is in the final development stages as review and approval by the Board of Visitors is expected in early December. The hotel brand will be announced in the near future. The estimated cost is between $20 million and $25 million.