An $80-million 320-room dual-branded hotel is slated to break ground in Phoenix this spring, the Phoenix Business Journal reports. The property will bear two Marriott International brands: Courtyard by Marriott and Residence Inn by Marriott.
After some recession-induced delays, Irvine, Calif.-based Hansji Urban is moving forward with the 19-story project. The hotel will reportedly be called the Luhrs City Center Marriott, to be located at Madison Street and Central Avenue, where an existing vacant two-story office building will be razed.
It will join other new downtown hotels, such as Hotel Palomar at CityScape one block north and the Hotel Monroe.
The lower 120 rooms of the hotel will be the Courtyard, while the remaining uppermost rooms will be for the Residence Inn, Raj Hansji, president of Hansji Urban, told the PBJ. The two brands will share a lobby and other amenities, such as the fourth-floor pool.
Hansji also has a 50-year Government Property Lease Excise Tax, or GPLET, incentive on the project, which kicks in after construction is complete.