5.6 acres purchased near Central Texas Marketplace

Heritage Hospitality Group has bought two lots covering almost 5.6 acres along Marketplace Dr., across the street from an existing Hampton Inn & Suites and next to a 32-unit independent living community called Emerald Cottages taking shape near Bagby Ave.

Emerald Cottages Group sold the land to Heritage in a deal brokered by real estate agent Jim Peevey, who said the two lots had a combined asking price of almost $1.5 million.

Peevey said Heritage hopes to build a Residence Inn by Marriott, the second in Greater Waco, and a Tru by Hilton property that represents an attempt by Hilton to attract millennials.