While it would be nice if the building was taller and the parking was underground, you have to remember that this site currently has a gas station and we are well outside of Downtown. It sounds like a nice project for the area, especially since two possible brands are Hilton's Canopy and Choice Hotels' Cambria. Both are very contemporary high-end brands that feature nicely appointed rooms (think W Hotels). This has the potential of being really interesting inside.
Currently the project is in the city planning and approval process with a goal of starting construction in early 2017.