Premium ContentMouse over Home then click on Premium Content for information.Omaha claimed an economic development victory for downtown Tuesday with Hyatt Hotels' announcement that it will proceed with construction of a nine-story Old Market project.
Hyatt Hotels Corp. said one of its affiliates had purchased the northwest corner of 12th and Jackson Streets, and construction on a 159-room Hyatt Place will start around April.
The site had been targeted for a hotel since 2007, when a developer proposed a Marriott Residence Inn. But that project languished through the recession, with the developer unable to secure the financing necessary to start construction, before Hyatt stepped in last summer with its own plans.
Mayor Jim Suttle said Tuesday he has worked to help move the hotel project forward since he took office in 2009. That it is, he said, speaks to the strength of Omaha's economy coming out of the recession.
The project is estimated to cost $23.6 million, supported by $3.1 million in property tax incentives authorized by the city. The hotel, to be owned and operated by Hyatt, will create about 50 jobs.
Suttle said the Hyatt will enhance downtown and provide a bookend hotel for the west end of the Old Market.
"This is just going to add to the whole mix of activity that goes on in the Old Market," he said.
The Hyatt Place — the company's first hotel in Nebraska — is due to open in 2014.
Hyatt classifies its new hotel as an upscale, select-service hotel, a category that would compete for business travelers and local visitors with the likes of the Hilton Garden Inn and Courtyard by Marriott, both located along 10th Street near the Old Market.
It will offer free Wi-Fi and rooms with a 42-inch high-definition television that allows plug-ins from electronic devices. The hotel will offer complimentary continental breakfast; a kitchen that offers breakfast, lunch and dinner; and a quick-meal case with ready-made sandwiches and salads.
The Hyatt Place concept started in 2006 and now features more than 160 hotels across the country. The company said an additional 35 Hyatt Place hotels are under development through the United States and around the world.
Hyatt's Omaha hotel will join the company's existing Worldwide Reservations Center in the city.
In a statement, Chris Ivy, a Hyatt senior vice president, said the company looks forward to introducing the Hyatt brand to Omaha. He said the Hyatt Place "will be a valuable addition to the portfolio of urban Hyatt Place locations."
Contact the writer:
402-444-1128, jeff.robb@owh.com
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