NATIONAL REPORT—There’s a lot of hotel projects in the works out West. Here’s more on the hotels making headlines with developments in Washington, Wisconsin, Utah and Arizona.
First Pacific Northwest Property Underway for InterContinental
InterContinental Hotels is developing a new InterContinental Hotels & Resorts property in Bellevue, WA located in the Seattle metropolitan area. Developed by Bellevue-based Fortress Development, the new-build hotel is expected to open in Q4 2021 and will be part of a luxury, two-tower mixed-use development known as Avenue Bellevue. The property will have 252 rooms, two bars and a restaurant, 14,250 sq. ft. of meeting space, a business center, a full-service spa and a fitness center. This will be the first InterContinental hotel in the Pacific Northwest.
Construction Load Issued to Tacoma Marriott Convention Center Hotel
3650 REIT has facilitated a $78-million construction loan to Yareton Investment LLC to complete the development of a 304-room, full-service Marriott hotel in Tacoma, WA. The 22-story hotel will have 9,000 sq. ft. of event space, a 10,000-sq.-ft. ballroom and is connected to the Greater Tacoma Convention Center, one of the largest meeting locations in the Pacific Northwest. With this loan, Yareton Investment is able to advance the development of the hotel component of its broader mixed-use project that includes a residential tower to accommodate the needs of local residents and University of Washington Tacoma students.
Construction Begins on Renaissance Hotel in Wauwatosa, WI
HKS Holdings LLC and Concord Hospitality Enterprises have started construction on the Renaissance Hotel in Wauwatosa, WI, which will be the first full-service, Marriott-branded hotel in the area. The hotel will have 196 rooms and suites, a concierge lounge, fitness room and event spaces. It will also have a 4,500-sq.-ft. grand ballroom, additional meeting space and a restaurant. The project is expected to be completed by spring/summer 2020. Wauwatosa is the largest area submarket outside of downtown Milwaukee. In recent years, it has seen growth with more than $300 million in new developments at the Milwaukee Regional Medical Center and UWM Innovation Campus.
Wyndham Destinations Plans for Utah Resort, Arizona Expansion
Wyndham Destinations has proposed development of a new timeshare resort in Moab, UT, working with developer Gardiner Properties. Wyndham Destinations has also started construction of new suites at its existing resort in Scottsdale, AZ. Upon planned completion of the proposed resort in late 2020, the new Moab property is expected to have more than 150 condo-style units.
The WorldMark by Wyndham vacation club is also planning to add 40 suites to the WorldMark Scottsdale resort that overlooks the championship Scottsdale Silverado Golf Course. The new suites are expected to be available for WorldMark owners by late 2019.
