October 1, 2013
Creative Boutique Hotels, LLC (CBH) announced today that they have been approved by the acclaimed real estate crowd-vesting site Fundrise.
"After a fairly arduos vetting process, we are excited that the Fundrise team found our historic boutique hotel adaptive reuse projects worthy to secure the designation of Approved Developer," stated Hal Craddock, Craddock Cunningham Architectural Partners and partner with CBH.
CBH currently has several historic boutique hotel projects at various stages of development. These projects can be found on www.Fundrize.com. Investment opportunites in CBH projects vary depending on the property size and location.
Current boutique hotel projects include the expansion of their existing Craddock Terry Hotel, Lynchburg, Virginia; the revitalization and expansion of The John Randolph Hotel: South Boston, Virginia; the adaptive reuse of One Mill Place, Farmville, Virginia; and the feasibility, design and construction of a ground up boutique hotel--The Rutherfoord Hotel, Crozet, Virginia. Other projects under various
stages of development are located in Concord, North Carolina; Roanoke, Virginia; Culpeper, Virginia; Bristol, Virginia and Columbus, Georgia.
About Creative Boutique Hotels
We are a Virginia based partnership focused on the development of boutique hotels in small markets, and on the repurposing of historic buildings as well as new construction. The partnership combines the talents of Cornerstone Hospitality, MB Contractors and Craddock Cunningham Architectural Partners. Cornerstone Hospitality conducts market analyses, determines viability, makes recommendations for property size, styling and operations management. Hal Craddock of Craddock Cunningham Architectural Partners specializes in the vision, design and repurposing of historic structures. MB Contractors provides a solid foundation of construction costs and craftsmanship.
About Cornerstone Hospitality
Cornerstone Hospitality is an innovative boutique management company dedicated to operating successful hotel properties through hands-on management, developing relationships with hotel teams and guests and driving bottom line profits for owners. Cornerstone’s strategic plan is to expand its operations through thoughtful partnerships with communities and individuals who want to make a difference. We thrive on revitalizing historic structures into boutique hotels and creating sustainable neighborhoods, rejuvenating small towns and improving the lives of those who work and live in the communities in which these projects are located. This ongoing process is being achieved through future acquisitions, joint ventures and hotel third-party management agreements.
Our services include hotel development; feasibility studies for historic repurposing; asset management including renovation and property management; marketing, sales generation and revenue management; and operational consulting for improved performance. Cornerstone’s primary focus is to collaborate with others to develop and manage upscale boutique, LifeStyle and upper-midscale branded hotel properties. The firm is in the process of developing two historic hotels in Virginia; is in the design and construction phase of a LifeStyle hotel in North Carolina; is overseeing the $3 million renovation and operation of the first Hampton Inn & Suites built in the country; is actively involved in the expansion of the existing Craddock Terry Hotel; and has several third-party management contracts.
Kimberly Christner, President
About Craddock Cunningham Architectural Partners
Craddock Cunningham Architectural Partners PC is a Virginia based planning, architecture and interior design firm committed to the success of towns and cities as marketplaces of ideas, entertainment, hospitality and culture. Founded in 1952, the firm has provided design services for a number of important places and spaces. From the original Natural Bridge Hotel in the 1960s to the award winning Craddock Terry Hotel in Lynchburg, Virginia in 2007, the firm has shown a knack for creating hospitality developments that become destinations, spur economic development, and dramatically improve the culture of the places they anchor.
CCAP is particularly skilled at adapting aging buildings for new uses, a practice which recycles historic and unique resources, connects to already existing infrastructure and preserves open green spaces. The firm was awarded the 2008 "Preservation Virginia", Adaptive Use Project of the Year for its Bluffwalk Center Hospitality Complex including a charming boutique Hotel and Event Center, two successful restaurants, and a microbrewery.
Hal Craddock, Principal
About MB Contractors
Founded in 1912 and built upon a legacy of success, MB Contractors has grown into one of Virginia's largest and most respected general contractors with offices in Roanoke and Richmond. MB harnesses expertise and professionalism to provide a broad array of services, creating functional, safe, and cost-effective buildings for a variety of clients including hospitality and multi-unit facilities. From concept to keys, MB never loses sight of its core values. MB's projects are a direct result of how they work--by conducting business openly and honestly and, most of all, to deliver what is promised
Todd Morgan, President