Hyatt Hotel Coming to Indianapolis’ Historic District
- Oct 16, 2017
HRI Properties started construction on a dual-branded Hyatt Hotel, located in Indianapolis’ historic Wholesale District. Upon completion, which is slated for the second quarter 2019, the development will bring together a 186-key Hyatt Place Hotel and a 130-key Hyatt House Hotel, both of them under HRI Lodging management.
“We are thrilled to be officially moving forward with this momentous project,” said Thomas Leonhard, president & CEO of HRI Properties, in prepared remarks. “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.”
Wells Fargo Bank issued a loan, which covered part of the construction financing. The other part is made up of tax increment bonds issued by the city of Indianapolis and bought by Regions Bank.
In the middle of it all
The development is located at the corner of South Pennsylvania Street and East Georgia Street, near city landmarks such as the Indiana Convention Center, the home of Indiana Pacers and Circle Mall. The three-block Georgia Street often transforms into a pedestrian area when it hosts several happenings, such as concerts, New Year’s Eve parties and game-day events.
In addition to the Hyatt-branded studios, one- and two-bedroom kitchen suites and den rooms, the site will include more than 6,000 square feet of meeting space, rooftop swimming and fitness facilities, more than 13,000 square feet of ground-floor retail space and an adjacent parking garage. The latter will host 382 vehicles serving guests and the general public.
RATIO Architects will serve as the architect of record while Getty’s One will provide the interior design services. The contractor is Wilhelm Construction Co.
This is not the first time HRI is undertaking a hospitality development project in a historic area. Fewer than three months ago, the company started converting a historic Nashville building into a Holston House Hotel.