HRI Properties Breaks Ground on Dual-Branded Hyatt Place and Hyatt House Development Project in Downtown Indianapolis
INDIANAPOLIS, IN. October 16, 2017 – HRI Properties announced today that they have financially closed and started construction on the dual-branded Hyatt Place and Hyatt House hotel located in the Wholesale District in Indianapolis, directly across from the main entrance to Bankers Life Fieldhouse. Construction on the property began in September 2017, with a targeted opening date in second quarter 2019. HRI Lodging, an affiliate of HRI Properties, will manage the property under franchise agreements from Hyatt Hotels Corporation.
The dual-branded hotel will represent a prominent landmark within central downtown and creates an experience that enables guests to enjoy the benefits of both brands in one location. The new construction consists of a 186-room Hyatt Place Hotel and a 130-room Hyatt House Hotel with amenities including valet parking, over 6,000 SF of flexible meeting and event space, rooftop swimming and fitness facilities, a second-floor indoor/outdoor lobby bar that overlooks Pennsylvania Street, and over 13,000 square feet of ground floor retail space available for rent to third party tenants. The overall development will also include construction of a 382-space parking garage adjacent to serve both guests and the general public.
The hotel is located in downtown Indianapolis’ historic Wholesale District at the corner of South Pennsylvania Street and East Georgia Street, facing the main entrance of Bankers Life Fieldhouse, home of the Indiana Pacers. Georgia Street's three-block street and pedestrian walkway, located immediately adjacent to the property, connects the Indiana Convention Center, Bankers Life Fieldhouse, Circle Center mall, a collection of restaurants, and other attractions. The street regular converts into a pedestrian mall, hosting summer concerts, New Year’s Eve parties, and game day events.
Hyatt Place brings the brand’s intuitive design, casual atmosphere, and practical services. Amenities include free Wi-Fi and complimentary breakfast, valued by business travelers, while providing open areas and a variety of seating where guests can unwind and connect with others. Spacious guestrooms allow guests to relax in separate sleeping and living areas. Hyatt House provides guests with the spaces and places that help make them feel more like residents. Featuring contemporary, residentially inspired studios, one and two-bedroom kitchen suites and den guestrooms, Hyatt House boasts unexpected amenities and services, including indoor and outdoor social spaces.
“We are thrilled to be officially moving forward with this momentous project,” said A. Thomas Leonhard, President and CEO of HRI Properties. “The combination of Hyatt Place and Hyatt House located directly across the street from the Bankers Life Fieldhouse will create another vibrant anchor to the Wholesale District in Indianapolis. We see great synergies between the Fieldhouse and our project.”
This significant mixed-use project includes construction financing from Wells Fargo Bank, N.A and Tax Increment Bonds issued by the City of Indianapolis which were purchased by Regions Bank, N.A. The project team includes Wilhelm Construction Company as the project’s contractor, RATIO Architects as the architect of record, and Getty’s One as the interior designer.
HRI Properties, LLC ("HRIP") is an internally managed, fully integrated owner, operator and developer of premium branded hotels and upscale apartments in top urban U.S. markets. Since 1982, HRIP and its predecessor have completed more than 80 projects involving more than $2.5 billion of total invested capital, which include over 5,000 apartment units, over 5,000 hotel rooms, and more than 1.4 million square feet of office and retail space. HRI Lodging, a wholly owned subsidiary of HRIP, provides hotel management services for both HRIP owned and third-party property owners. HRI Lodging operates nearly 30 hotels and is an approved operator for industry leading brands and independent, boutique hotels. HRIP is a full-service real estate development company, with in-house architectural design and construction management capabilities and is a national leader in the adaptive reuse of historic structures. As the urbanization trend in the U.S. continues, we are committed to developing, acquiring and managing high quality real estate located within "walkable" urban neighborhoods where people want to live, work and play. For more information, please visit our website at www.hriproperties.com.
About Hyatt Place
Hyatt Place, a brand of Hyatt Hotels Corporation, combines style, innovation and 24/7 convenience to create a seamless stay with modern comforts. There are more than 274 Hyatt Place locations in Armenia, Brazil, Canada, Chile, China, Costa Rica, Honduras, India, Mexico, Morocco, Nicaragua, Panama, Puerto Rico, Thailand, The Netherlands, United Arab Emirates, United Kingdom, and the United States. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.
About Hyatt House
Hyatt House, a brand of Hyatt Hotels Corporation, launched in 2012 and offers more than 72 locations throughout the United States, China and Puerto Rico. Inspired by extensive research into guest experiences, Hyatt House hotels offer services, amenities, upscale spaces and a casual, comfortable environment that reminds guests of home. For more information, please visit hyatthouse.com. Join the conversation on Facebook, and tag photos with #HyattHouse and #WhySettle.
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