Fun with renderings: $27M Hyatt Place in Bloomington

November 28, 2012
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Hyatt Place BloomingtonDevelopers plan to break ground next year on a $27 million Hyatt Place hotel just southwest of the Courthouse Square in Bloomington. Hyatt
                              Place BloomingtonThe 168-room, seven-story hotel is proposed for a surface parking lot on the south side ofHyatt Place Bloomington Kirkwood Avenue across from the Irish Lion and Crazy Horse restaurants and east of the B-Line bicycle and pedestrian trail. Hyatt
                              Place BloomingtonThe plans from REI Investments of Indianapolis and White Lodging of Merrillville call for a two-level parking garage, outdoor seating along the B-Line trail and Kirkwood and an indoor pool/fitness center. The designer is PFVS of Atlanta. The Bloomington City Council on Monday approved the vacation of an alley in the middle of the project site, which also includes a small building once used for drive-through banking. Construction is scheduled to start in the spring, with completion expected in 2014. It is the second hotel project in the works for downtown Bloomington: A 155-room SpringHill Suites is planned for the northwest corner of College Avenue and Ninth Street. Thoughts?

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  • Nice add
    I don't know about the external design, but I've stayed at Hyatt Place before in two different locations and they are great. A nice addition for Bloomington!
  • More rooms in Btown!
    Finally more hotel rooms in Btown! If anyone knows Bloomington, rooms to stay in are a hard find for graduations, football games, move-in weekends, or any other major even happining in the town. Glad to hear. Now I hope these hotels do not set their prices too high.
  • Much needed!
    These hotels are a true need for Bloomington. There are very few choices as far as clean, nice, and up to date hotels go. Between the Hyatt and Springhill Suites alumni will actually have options.
  • Great news
    This is wonderful news for alumni, visiting families, etc who like to stay on game weekends. The only good current choices are the Hilton Garden Inn, Courtyard, Union and Grant Street Inn. These choices fill up fast and over priced well above market on game weeekends. Maybe the added competition will mean more competitive rates. Either way, it will be great to have more options.
  • $27 Million
    Sounds like a lot of money, $27 million to build a 168 room hotel, which is $161,000 per room cost. In today's buyer market enviroment seems like REI could buy two hotels for that price, unless there is some city funny money behind closed doors, down there in Btown.
  • Good or Bad?
    I like the idea of development, and new business downtown. Being a resident of downtown (living only one block away from the proposed location) I just want to make sure it's being implemented in a balanced way. I've only 'heard' a few things that didn't sit well, which were; not opening up the lower floor to retail space that would provide for local businesses, not designing the lower floor + lobby area to be wide and open to the B-Line trail (and in fact making it the opposite, and hard to access) making access to local business off the b-line harder to reach for guest, and also that the majority of employees would be staffed by hyatt and brought in from other locations. It might all be heresay, but those factors wouldn't be good for our local economy.
  • Banquet facility
    Just wondering if either of these new hotels have considered a large banquet facility? It would be nice to have another option in B~town for 400+ events.

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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