Hotel Melby Remains Unaffected by Hurricane Dorian
September 6, 2019, Melbourne, Florida.
Many residents and businesses on Florida’s east coast recently braced for Hurricane Dorian, which was predicted to be one of the most severe storms to hit Florida in many years. Luckily, Hurricane Dorian showed mercy to the entire state by changing courses just hours before the storm was set to hit, thus avoiding major damage.
The LCP Group, L.P.’s (LCP) latest investment property, Hotel Melby, a Tapestry Collection Hotel by Hilton, which is currently underway in Melbourne, Florida, remained unaffected by the storm. The general contractor ensured the site and crane remained safe and secure, and a water drainage plan was successfully implemented for the site. There was no damage to the site or to the work in progress from Hurricane Dorian. The general contractor is back on site and construction is continuing as planned.
Hotel Melby will be a modern 11-story 156-room boutique hotel located in the heart of Florida’s Space Coast. The Florida Space Coast is a thriving economic market suited for a premier hotel brand that will cater to local corporate leaders in the aviation, technology, aerospace, and defense industries such as NASA, Raytheon, Lockheed Martin, SpaceX, and Blue Origin. Due to the unique underwriting fundamentals of this project, it is projected to yield up to two times the investment amount for investors upon an assumed sale in year five of the investment period. And, there are still a few investor spots left!
LCP has been a pioneer in both public and private real estate investments for more than 45 years and oversees a real estate portfolio valued in excess of $850 million that includes investments in existing and ground-up development projects across the real estate sector and throughout the United States. LCP owns 11 USCIS-designated regional centers covering major markets throughout the United States and sponsors job-creating EB-5 investment projects by working with leading developers. LCP’s experience and partnerships provide a strong foundation for its projects and LCP has helped more than 1,000 investors on their path to permanent U.S. residency.
