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Mortenson – Portland Hyatt Regency Headquarters Hotel – Oregon - Project Profile

Mortenson – Portland Hyatt Regency Headquarters Hotel – Oregon - Project Profile

Synopsis

"Mortenson – Portland Hyatt Regency Headquarters Hotel – Oregon - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "Mortenson – Portland Hyatt Regency Headquarters Hotel – Oregon - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary

Mortenson Development (Mortenson) is undertaking the construction of a hotel in Portland, the US.

The project involves the construction of a 14-story 600-room hotel building. It includes the construction of a lounge, bar, a fitness center, a swimming pool, 9,273m2 meeting room, a business center, reception area, ground floor retail space, restaurants and cafes, 385 parking spaces and other related facilities.

The development team of the project includes Mortenson Construction, Hyatt Hotels Corporation, Elness Swenson Graham Architects, Ankrom Moisan Architects, Piper Jaffray & Co., Jones Lang LaSalle Hotels and Star Terra LLC/Schlesinger Companies.

In September 2012, the development team originally presented four options on two sites with several configurations. However, on September 13, 2012, Metro Council selected the 600-room option on the site owned by Schlesinger Companies adjacent to the convention center.

In 2014, Mortenson signed a development and finance agreement with Metro, the regional government to design and build the project directly adjacent to the OCC to serve national convention clients, exhibitors, sponsors, and planners.

In August 2014, Metro, the regional government that owns the Oregon Convention Center, approved the final development agreement for a new headquarters hotel.

The US$134 million funding for the project is planned to be secured in private-sector investment, US$60 million to be secured by issuing bonds, US$4 million each from Metro, US$10 million from Oregon State Lottery, US$4 million from Portland Development Commission.

In January 2016, Metro stated that, as part of the global legal settlement and commitment to public/private collaboration, it will transfer ownership of a parking lot to Aspen lodging group for further development of convention center area.

Metro signed a global legal settlement agreement with Aspen lodging group for further development of convention center area.

Ground breaking ceremony was held marking the start of construction on August 4, 2017. construction activities are scheduled to complete by 2019.

Scope

The project involves the construction of a 14-story 600-room hotel building adjacent to Oregon Convention Center at 777 N.E. Martin Luther King Jr. Blvd in Portland, Oregon, the US.

The US$224 million project includes the following:

1. Construction of a lounge

2. Construction of a bar

3. Construction of a fitness center

4. Construction of a swimming pool

5. Construction of a meeting rooms

6. Construction of a business center

7. Construction of a reception area

8. Construction of restaurants and cafes

9. Construction of ground floor retail space

10. Construction of 385 parking spacesReasons To Buy

  • Gain insight into the project.
  • Monitor the latest project developments.
  • Identify key project contacts.


1.Key Statistics
2.Key Dates
3.Sector
4.Operating metrics
5.Scope
6.Description
7.Latest update
8.Background
9.Key Contacts
10.General News, Project News
11.Appendix

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