TMGOC Ventures—a real estate and development private equity firm headquartered in Charleston, S.C., and Boca Raton, Fla.—has received approval from the Savannah (Ga.) Historic District Board of Review to bring the first Ritz-Carlton to the city. Construction is scheduled to begin in the second quarter of 2024 with a proposed opening date within the first quarter of 2026.
The 104-room Ritz-Carlton will occupy the historic ‘Savannah Skyscraper’ at 2 E. Bryan St., downtown, and the 20 residences will be at 14 E. Bryant St. The property will have a signature three-meal restaurant, a lobby lounge, a members-only Club, a rooftop bar and pool, a 5,000-square-foot spa and wellness facility and more than 5,000 square feet of meeting space. Owners of the residences will have the option of renting their units through the operating company.
“The opportunity to bring The Ritz-Carlton brand to such an iconic building is one we couldn’t pass up,” TMGOC Co-Founder and Managing Partner Sunju Patel said in a statement. “We look forward to working with our project partners and the continued support from city leaders to bring this vision to life. We’re thrilled to bring this ultra-luxury property to Savannah and know that the finished product will be worthy of the city’s rich history.”
TMGOC has enlisted a design team that includes New York and London-based interior designer MBDS (Martin Brudnizki Design Studio) and Miami-based architecture firm Studio Mc+G Architecture, to oversee the design process. The luxury hotel development will be owned by TMGOC and operated by The Ritz-Carlton, a Marriott International brand.
“We’re aiming to restore this iconic downtown building while ushering in a new era of luxury bringing The Ritz-Carlton to Savannah,” said TMGOC Co-Founder and Managing Partner Glenn Alba. “Guests and owners can expect a five-star experience with elegantly-designed rooms and residences, innovative amenities, high-touch service and more – all set against the backdrop of this great, historic Southern city.”
Recent TMGOC developments include the Moxy Charleston Downtown, the first Moxy in South Carolina. Additional projects underway include a 208-key Moxy under construction in Charlotte, N.C., a 162-key Tapestry Collection by Hilton and a 233-unit multi-family mixed-use development in Macon, Ga., a 191-key Thompson by Hyatt in Charleston, S.C., and a 150-key and 20 residences by Autograph Collection Hotels in Charleston, S.C.
TMGOC’s existing portfolio currently consists of properties primarily located in the Southeastern U.S., with plans to expand to additional key markets in Arizona, Colorado, and Utah.