This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

GREENSBORO, N.C. — A Starwood Hotels and Resorts spokesperson confirmed to FOX 8 plans to build an Aloft Hotel on North Eugene Street in downtown Greensboro.

The area is a current parking lot across from New Bridge Bank Park and diagonal from the current Carroll at Bellemeade development.

The Aloft Hotel is one of three hotel projects currently underway in the city.

The $60 million investment of Carroll at Bellemeade will include a 110-room Hyatt Place hotel. The hotel is expected to open in late 2017 and will be the first new hotel in downtown Greensboro in 32 years.

“To see one actually start going vertical means that we have greater capacity to have conferences downtown, creates more heads in beds,” explained Downtown Greensboro Inc. President and CEO Zack Matheny.

Few details are available about the new Aloft Hotel. It will have 150 rooms and 600 square feet of meeting space. This will be the Triad’s first Aloft hotel and is slated to open in 2020.

The boutique chain is known for modern decor and use of technology. There are currently Aloft Hotels located in Charlotte, Raleigh, Durham and Asheville.

Matheny said if an Aloft Hotel were to come to downtown, it would definitely help put the city on the map.

Roy Carroll, Founder, Chairman and CEO of the Carroll Companies and one of the region’s largest developers, bought that land from Guilford County in 2015 for $1.5 million.

A third hotel is also in the works. A Westin will be opening on South Elm St in October of 2019, according to the Starwood Hotels website. Matheny confirmed a hotel at this location has been in the works for a few years.

“The key with the hotel that would be at the Elm Street Center, it also opens up Davie Street and so now you are even further widening downtown,” he said.

Matheny says downtown Greensboro does not currently have enough space to host large conferences because of a lack of hotel rooms.

Three new hotels will solve that problem and allow the city to compete with other cities. He says it will also help local businesses.

“Bringing folks downtown in a concentrated effort that they’ll go out and invest and spend their money in our local merchants, our restaurants and our retail. We’ve got to have more pedestrian activity for our restaurants and retail to survive and not only survive but be profitable,” Matheny said.