A new 124-room Hyatt Place will be open by summer 2016 in Eugene, Ore., part of a shopping center. The Korth family has reached an agreement with Hyatt to build the Hyatt Place at Oakway Center. The hotel is part of a larger plan for an eight-story building.
The Register-Guard reports that officials with the Korth family’s McKay Investment firm filed documents with the Eugene Planning Department in August, outlining their intent to restart the project. But those documents did not include the hotel.
Korth said that his company contacted Hyatt officials about four months ago to gauge their interest in a hotel at Oakway Center. At the time, Korth said, his company was weighing whether to start the project in 2015 or 2016. The estimated construction timeline is 13 months.
Korth said that Hyatt was "eager to jump into the Eugene market."
“It was a competitive environment,” Korth told the Register-Guard. “We’re excited to get the Hyatt brand.”
Korth declined to disclose the estimated development cost. The building will include an underground parking garage and a ground-level floor with about 21,000 square feet of restaurant and retail space, adding to the existing 220,000 square feet spread across Oakway Center.
Korth added that hotels have increasingly become a standard feature of upscale retail and restaurant developments over the past decade, something less common when large shopping mall developments were the norm.