Published November 7th, 2019 at 12:30 PM1 minute read
By Kevin Collison
Construction is expected to begin within a couple weeks on a 13-story Hyatt House hotel at Ninth and Broadway that plans to introduce ‘Sexy Pizza’ to the downtown skyline.
“It’s the food that’s sexy,” developer Scott Pedersen explained. “It’s a great concept and a great fit for the hotel.”
Pedersen said the Denver-based pizza chain is owned by partner Jeff Shanahan and will be part of a rooftop amenity package that includes a full bar with craft cocktails and several tap beers, all open to the public.
On the local front, the Roasterie is planning a full café in the lobby. Pedersen said a special “Garment District Blend” will be served in honor of the historic neighborhood where the hotel will be located.
The $38 million project won approval for a 15-year property tax break from a city development agency in December.
The last private financing piece fell into place in October when Petros PACE Finance closed an $8 million loan to finance energy efficiency measures at the project.
Pedersen said construction should begin within a week or so with completion expected in February 2021. No groundbreaking ceremony is planned, although there will likely be a topping off event.
The 153-room hotel will be an extended stay hotel, with many rooms including a kitchenette.
It’s going up on land that’s currently a parking lot at the southwest corner of Ninth and Broadway. The hotel project does not include parking, instead guests will use valet parking in nearby garages.
An earlier plan to build a 48-stall mechanical garage on the west side of the hotel project to replace parking lost to the adjacent Google Fiber building has been scrapped, Pedersen said substitute surface parking has been found instead nearby.
In addition to the restaurant and bar, the Hyatt House project will include 2,000 square-feet of meeting space on the rooftop.
Brinkmann Constructors is the contractor, the architect is SEH, Inc.
Pedersen said the Meyer Jabera management company has been hired to operate the Hyatt House.
The energy-conserving features allowed by the $8 million in “C-PACE” financing from Petros PACE is expected to generate over $7 million in savings over its 20-year life and reduce its carbon dioxide emissions by 1,159 metric tons, according the company.
The firm described C-PACE as a relatively new, low-cost financing tool for energy and water efficiency projects that is secured as a property tax assessment.
“It solves many problems that have historically prevented commercial building owners from investing in energy efficiency or renewable energy, such as high upfront costs,” according to a release from Petros PACE.