McCarthy to Build a Le Meridien
Company's Mark on Hayden Ferry Lakeside Development Continues to Grow
TEMPE, AZ, August 15, 2006. McCarthy's Southwest Regional President Bo Calbert thinks his colleagues would have laughed at him 20 years ago if he told them that McCarthy would be building a luxury hotel on the banks of a lake in Tempe, Arizona. But with the most recent announcement that Starwood's luxury Le M'eridien hotel is coming to Tempe, he can't help but gush at the impact the construction company has had on lakeside development in the area.
"When I think that none of this was even here - it's pretty amazing," Calbert said.
Residential Constructors L.L.C., a wholly owned subsidiary of McCarthy Building Companies Inc. (www.mccarthy.com), has been tapped to build the region's first Le M'eridien, a luxury hotel that's new to Arizona and promises to be a boon to developers and tourism efforts. The $105 million project will be 14 levels, with 183 guest rooms, 44 condominiums and a restaurant. Part of Suncor's master-planned Hayden Ferry Lakeside project located along Rio Salado Parkway between Mill Avenue and Rural Road, groundbreaking is expected in spring 2007, and grand opening is scheduled sometime in early to mid-2009.
The hotel is a joint venture of Valhalla Development Corporation, Sierra Hospitality and Adobe Development Partners who together comprise Tempe Lake Development Partners.
"McCarthy clearly has made its mark on this lakeside development," said Valhalla President and CEO Tod Decker. "Their experience with Suncor and success at moving these projects from the ground up sold us on their capabilities to help bring Le M'eridien from vision to reality. And knowing that Bo is looking out his window and watching the progress - we're certain to get the attention that this development deserves."
With its regional headquarters at Hayden Ferry Lakeside's development on Rio Salado Parkway, McCarthy constructed the four-story office building in which they currently reside and has been the general contractor on all phases of the Suncor project, including the high-end Bridgeview and Edgewater Condominiums and the second phase of the project's commercial/retail complex.
McCarthy is also overseeing the $36 million build-out of The District at Vestar's Tempe Marketplace located at the southwest corner of Loops 101 and 202.
"It's great to be able to help grow our neighborhood - both literally and figuratively," Calbert said.
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