A report this morning from GlobeSt.com
says that PM Hospitality Strategies
is close to a deal to manage a hotel located in what they describe as "in Capitol Hill, specifically the Navy Yard" (eww). "Principal Joseph Bojanowski tells GlobeSt.com that the developer is currently wrapping up development financing and will ink a deal on the project shortly. 'The land was purchased last month and the hotel is expected to roughly deliver in mid-2015,' he says."
The article doesn't give any additional details on where the hotel might actually be, and the story's RSS summary describes it as "a 165-key hotel in Capitol Hill," but given that the story's headline is actually "PM Hospitality Eyes Navy Yard Hotel," and assuming that the project won't actually be *in* the Washington Navy Yard, signs point to this being the L-shaped hotel planned for the corner of 1st and N SE
on land formerly owned by the Welch family. Those plans for a 13-story 167-room hotel were okayed by the Zoning Commission in December, and in mid-March a $5.44 million sale was recorded of the Welch lots to Capital Riverfront Hotel LLC. (The rendering at right is from the zoning filings.)
At the zoning hearing, representatives of the developer said that it was expected that construction would take about 16 months, which would point to a start date sometime in early 2014 to then deliver in mid-2015 as the article says.
The 1st and N hotel will have no on-site parking, and
no ground-floor retail space
Per commissioner David Garber in the comments, there will be no "traditionally leased" retail space, but there will be a retail space operated by the hotel facing N Street, which is shown in the final zoning drawings as a restaurant or bar.). It wraps around Grosvenor's planned two-story retail building, and would be nestled between the residential buildings also planned by Grosvenor and Monument. My previous post on this hotel project
has additional details.
PM Hospitality Strategies is an affiliated company of the Buccini/Pollin Group
, which is the developer listed on this project's zoning documents. BPG owns properties throughout the mid-Atlantic, including the Madison Hotel
. Not known at this point is the brand this hotel will operate under, though of course I hope they call it the L Hotel. (UPDATE:
Or not, given how now we're all mistakenly referencing it being on L Street.)