Construction on a four-story, 107-room Residence Inn has started in Belmont on land adjacent to a hospital that CaroMont Health opened in January.
Rock Hill, South Carolina-based commercial real estate company Warren Norman, in partnership with Belmont Land and Investment and Belmont Abbey, is developing the $15 million project expected to open in spring 2027. Strand Hospitality Services, headquartered in Myrtle Beach, South Carolina, will be the hotel’s management company.
John Pharr, president of Strand Hospitality, is part of the family that started what came to be known as Pharr Yarns in nearby McAdenville. Strand Hospitality owns more than two dozen hotels in North and South Carolina, Georgia, Florida and Ohio.
Belmont Land and Investment is the real estate arm of the Pharr company, which exited the textile business in 2020. Belmont Abbey is led by the Southern Benedictine Society of monks, a major landowner in Belmont, and overseers of Belmont Abbey College.
Charlotte-based Myers & Chapman will be the general contractor on the project. Construction will be designed by Charlotte-based Ragona Architecture and Design, also known as RAD Architecture & Design.
The Residence Inn Belmont will be located along the CaroMont Parkway corridor, directly across from the $260 million, 54-bed hospital that Gastonia-based CaroMont Health opened in January.
Residence Inn is Marriott’s flagship extended-stay brand.
“This project represents continued confidence in Belmont’s growth and the strength of our community partnerships,” said Pharr in a release.