A developer is stepping back from a hotel project in middle Georgia, citing competition and economic uncertainty.
Miller Heath III tells local news outlets that he and partners won’t move forward with a plan for a 122-room Hyatt Place hotel in downtown Macon.
Earlier this month, Macon-Bibb County and Macon’s Urban Development Authority terminated their agreement to support the development by building two parking decks as part of a proposed $20 million bond issue.
The hotel would have been part of the proposed Central City Commons project, a plan for two hotels, restaurants, shops and apartments that would have remade an entire block in downtown Macon.
“With the new Marriott project going on across the street and COVID, it’s just not an opportune time to move on with more hotels in the market, particularly with that price point,” Heath said.
Instead, developers say they want to move forward with 93 apartments and retail space, asking Macon-Bibb County and the authority to build one parking garage.
Heath and partner Tim Thornton say about $9 million is needed to build the first parking deck, which will provide 350 parking spaces.
Heath said Tuesday that he is actively working with the development authority on a plan to build the first deck and lofts once the market recovers.