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A new nine-story hotel is being planned along the Kanawha Canal in downtown Richmond.

Henrico County-based KM Hotels has the sliver of land under contract with plans for an AC Hotel by Marriott, a relatively new high-end boutique brand by Marriott.

The 150-room hotel would be built on property that is now a surface parking lot between South 12th and Virginia streets, just south of the Kanawha Canal and across the canal from the historic Lady Byrd Hat building. It would built on the south side of the Kanawha Canal, between the canal and the floodwall.

The project would include about 14 residential condos on the top two floors and a 4,000-square-foot rooftop restaurant, said Mayur Patel, the president and chief operating officer of KM Hotels, which operates 19 hotels in five states, including five properties in the Richmond area.

The building will have retail space fronting along the Canal Walk. That level of the building also will include the hotel’s public space.

The guest rooms would be on part of the third floor and all of the fourth, fifth and sixth floors. The rooms would be above a two-level parking deck with 78 parking spots.