The Indigo Road Hospitality Group Celebrates the Beginning of Construction on The Flatiron Hotel Project in Ashville, NC
CHARLESTON, SC — October 21, 20201— The Indigo Road Hospitality Group is celebrating the beginning of construction on The Flatiron Hotel project in Asheville, NC. Flatiron Preservation Group, LLC, comprised of the principals of GarageCap and JPW Development, successfully received project permits to commence in July 2021. The targeted completion date for the adaptive reuse project is spring 2023.
“The hard hats are on and work is underway at the Flatiron Hotel project,” said Larry Spelts, president of the Lodging & Lifestyle Adventures of Indigo Road. “A community known for its intense civic pride, Asheville is also known for its vibrant arts scene and historic architecture. The Flatiron Hotel will offer timeless adventure with a distinctly local authenticity and experiences for the local and traveling connoisseurs familiar with Asheville’s prosperous dining and hospitality scene.”
The 71-key Flatiron Hotel is an adaptive reuse of the Flatiron building, Asheville, NC’s iconic downtown landmark. The new hotel within the Flatiron building aspires to fulfill the building’s historic purpose of signaling to the world that Asheville is a place of consequence. The Flatiron Hotel project will draw inspiration from the original “Lost Generation” of the roaring twenties and connect that bygone era with a mobile creative class looking for an escape true to Asheville’s prohibition-era spirit.
“The interior design of The Flat Iron Hotel is an eclectic mix of the Art Deco derived from the building itself and a more textural and organic modern edge,” said Carrie Dessertine, owner of Mey & Co. “The design strives to strike the balance between the buttoned-up formality of the structure and a new modern approachable layer.”
Within the Flatiron Hotel, guests and locals will find a restaurant featuring a wood-fired oven and craft cocktail bar on the ground floor, a rooftop bar with peerless views of the smoky mountains to the west, and, in the tradition of the Flatiron’s nascent era, one may or may not find a hidden speakeasy somewhere within.
“This project wouldn’t have happened without our collaborative partners, the overwhelming support of the City and the wonderful Asheville community,” said Steve Palmer, Indigo Road’s founder and managing partner. “We are excited and eager to be a part of the already well-established dining scene here with our soon-to-be-announced restaurant and bar.”
Located on Battery Park Avenue, the hotel, where it meets the charming, shop-lined Wall Street, will be a short two and a half block walk to the city’s famous and historic Grove Arcade; in proximity to all the best dining, drinking and entertainment that the city of Asheville has to offer; and a short drive to Biltmore Estate and Blue Ridge mountain hiking trails.
The Flatiron Building was acquired by Flatiron Preservation Group, LLC in 2019 shortly after the City of Asheville had approved its conversion into a hotel.
The Indigo Road Hospitality Group
Founded in 2009 by Steve Palmer, The Indigo Road Hospitality Group (IRHG) owns, operates, and manages restaurants and boutique hotels throughout the country. Based in the Southeast, IRHG is founded upon the core principle of serving with love and creating memorable experiences for all. In 2019, IRHG marked its tenth anniversary by being named a Forbes Small Giant and appearing on the Inc. 5000 Fastest Growing Companies list, and in 2020 announced that hotelier Larry Spelts joined The Indigo Road as a partner and president of its new venture into lodging with a focus on food & beverage driven boutique hotels. The Indigo Road’s dedication to excellence in food & beverage has been recognized the past three consecutive years (’18,’19, & ’20) by Palmer being named a semi-finalist by the James Beard Foundation’s award for Outstanding Restaurateur-US. For more information on the portfolio, team, core values and services, visit theindigoroad.com.
GarageCap represents the family offices of Jeremy Rincon and Robby Whites, who oversee investments across all verticals. The Rincon and Whites partnership began as two young entrepreneurs who founded Clarus Glassboards in a garage, fundamentally disrupting the writable surface market. After multiple exits to private equity, GarageCap formed with the goal to partner with incredible founders, builders, and creators. GarageCap has successfully acquired multiple properties across the southeastern United States with plans to develop a collection of unique, boutique hotels. In addition to their hospitality endeavors, the two serve on the boards of multiple private businesses and non-profit organizations.
JPW Development, founded by its managing principal Philip Woollcott, is a boutique private real estate firm specializing in the acquisition, development, management and ownership of urban infill properties throughout the Southeast with an emphasis on historic properties. The firm targets value-add and opportunistic deals where the properties can be repositioned through strategic and creative redevelopment and superior management to maximize investors return on investment. The firm specializes in being long term stewards of historic buildings by implementing creative adaptive reuse programs.
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