Asheville Supply & Foundry Company

Asheville, NC

Built in 1915, the three brick buildings made a part of the Asheville Supply & Foundry Company providing steel to build much of early Asheville, including City Hall and the expansion of the Biltmore Estate. In 2016, GBX Group donated a preservation easement for the abandoned property to the Preservation Society of Asheville and Buncombe County, ensuring the permanent preservation of its historic character.

GBX worked in conjuction with development partner, Encore Lodging, and the National Park Service to determine the best approach to return these important structures to a vibrant and relevant revenue-producing commercial property. The result was that the original standalone buildings were interconnected with two new infill buildings and The Foundry Hotel Asheville was born.

The Foundry Hotel Asheville, a Curio Collection by Hilton property, opened in October 2018 and has quickly grown into one of Asheville’s most popular lodging destinations, garnering some of the highest room rates and occupancy levels in the area. The property is a short walk to many of downtown Asheville’s shops and restaurants. GBX has invested in nearly a dozen historic structures in Asheville – a city that welcomes more than 10 million visitors annually.