ATLANTA–A joint venture between affiliates of Atlanta-based developer Songy Highroads, LLC and Hyatt Hotels Corporation has completed the acquisition of a site in Downtown Atlanta. Located at the corner of Luckie Street at Latimer Street, the site is situated directly across from the Georgia Aquarium and one block from Centennial Olympic Park. The abandoned two-story commercial building and public parking lot, which currently occupy two purchased lots, will be demolished to make way for a Hyatt Place hotel.
The site location offers front-door access to nearby galleries, restaurants, and attractions, notably, Centennial Olympic Park, which is undergoing an extensive $17 million renovation expected to be completed in early 2019. Construction drawings, pricing, permitting, and financing disciplines are underway for the new hotel, with a construction commencement date to be determined.
“Downtown has always been a vital part of Atlanta’s business community and entertainment scene, but in recent years we’ve seen a renewed sense of interest and excitement for the area from visitors, locals, and businesses alike,” said Todd Nocerini, COO of Songy Highroads. “The popularity of tourism makes the Centennial Park District the perfect locale for a new addition to our portfolio.”
In the past three years, Songy Highroads has built two Hyatt properties, a Hyatt Regency hotel and Hyatt Place hotel, adjacent to Houston’s Galleria shopping center, and the developer has also converted a downtown Washington, D.C., office building into a Hyatt Place hotel. In addition, it recently completed the Hyatt Regency Fairfax hotel conversion and renovation in Fairfax, Va. The Hyatt House Nashville West End is currently under construction.