PEG Companies reveals redevelopment plans for 300-unit hotel and multifamily project

The City of Smyrna is poised for significant development as PEG Companies presented plans for a new mixed-use project during a recent public meeting. This initiative promises to inject substantial investment into the area, with the potential for further developments in the future.

Tyler Phelps, a director of development at PEG Companies, outlined the firm’s extensive experience in hospitality and multifamily housing. With over 20 years in the industry, PEG has successfully developed more than 6,000 multifamily units and 7,000 hotel keys across the United States. Phelps emphasized the company’s commitment to creating properties that enhance community value, showcasing several successful projects from various states.

The proposed development in Smyrna will involve the redevelopment of an existing property, which PEG has owned for several years. The new project is expected to feature a dual-branded hotel, catering to both business and leisure travelers, and will include over 300 units. Phelps confirmed that the hotel will likely retain a major brand name, such as Marriott or Hilton, enhancing its appeal.

During the meeting, city officials and residents engaged in discussions about the project, with questions raised regarding the timeline for construction. Phelps indicated that once entitlements are secured, the design and permitting process could take approximately 18 to 24 months before construction begins.

This development aligns with Smyrna's broader goals of revitalizing the area and attracting new businesses and residents. As the city continues to grow, projects like this one are crucial for fostering economic development and enhancing the quality of life for its residents. The community eagerly anticipates the positive changes that this investment will bring.