The name of the hotel has not been announced, but Raj Patel – Jackson Hotel Partners LLC – has purchased 2.80 acres in The Columns Phase III on Corinthian Cove from Columns II Partners – Gary A. Taylor – for $1,463,616.

Phase III is situated at the intersection of Interstate 40 and U.S. Highway 412, and is the final development phase for this development and is designed to provide opportunities for not only retail, but also medical and residential – multi-family and hospitality – uses.

Phase I and II, also on Vann Drive, contains a large variety of national, regional, and local retailers, restaurants and offices.

Phase I and II draw both regional shoppers and national travelers to over 3,000,000 square feet of retail, restaurants, entertainment and hotels.

This development will represent an opportunity for regionally accessible shopping of varying scales.

From small local shopping and regional draws to national boxes, Columns III is planned to support a variety of retail and shopping formats.

(PHOTO: Area of new hotel in The Columns Phase III)