Construction on 207-Room Hotel, Rooftop Pool Kicks Off in Late 2020
PHOENIX (February 3, 2020) – When complete, the large-scale Park Central revitalization effort will transform a once-defunct shopping area into the city’s premier destination to work and play. Now, the addition of a new, state-of-the-art hotel will help ensure that it’s also a top place to stay for city travelers.
The brand-new, dual-branded Home2 Suites/Tru by Hilton hotel from Dallas, Texas-based Fayth Hospitality Group will add 207 total guest rooms to the Park Central property, spanning five stories and covering a total of 105,000 square feet of space. Construction is set to begin in late 2020, and once complete, it will add numerous features — including a new rooftop pool, mini-marketplace and other amenities — to the local landscape.
“This is a natural next step for the Park Central property, and we’re eager to add a new option for travelers who come to the area for work or leisure,” said Sharon Harper, of Plaza Companies, the company spearheading the Park Central revitalization effort alongside Holualoa Companies. “The Home2 Suites/Tru by Hilton dual brand hotel offers accommodations for both short- and long-term stays in a vibrant, affordable environment with multigenerational appeal. It’s an ideal fit, given the scope of this project, and we’re eager to watch it take shape.”
The new, dual-branded hotel will combine features and perks from both brands. Home2 Suites, a pet-friendly, extended-stay hotel, offers free breakfast, in-suite kitchens and other extended-stay perks. Tru by Hilton, meanwhile, offers interactive, semi-private workspaces, game rooms, multimedia areas and a 24/7 market where guests can grab snacks, coffee and other beverages and light bites.
“It’s the best of both worlds – it offers everything a busy business traveler needs for a short or long stay, but it also boasts a hip, youthful vibe that appeals to those visiting the city for what might be the first time,” said Greg Fay, managing partner of Fayth Hospitality Group. “We saw the vision Plaza Companies and Holualoa Companies had for what this site could eventually be, and we’ve eagerly watched things come to fruition. We’re honored to be part of such a major renovation effort that will continue to serve the city of Phoenix for generations to come.”
Helmed by Greg Fay and his partner, Randy Churchey, Fayth Hospitality Group launched in 2018 as a hotel investment company focused on select and compact full-service hotels in popular and emerging markets. In addition to the new Home2 Suites/Tru by Hilton hotel in Phoenix, the company also has projects in the works in Tucson, and Denver, Colorado.
“A project the size of the new Park Central is going to draw countless new travelers and opportunities to the area, and Home2 Suites/Tru by Hilton will have everything needed to accommodate them,” said Holualoa Companies COO Stan Shafer. “Colorful, connected and modern, it’ll be a welcome and necessary addition to the reinvigorated Park Central property.”
The new Park Central includes 450,000 square feet of Class A creative office and retail space available for lease with the ability to accommodate tenants ranging from 3,500 square feet to more than 100,000 square feet in size. It features exclusive tenant patios, on-site restaurants and amenities, a stunning mid-century modern design, 15 – 25-foot ceilings, convenient bike path and light rail access and ample parking. For more information on the project, visit www.parkcentralphoenix.com.
About Plaza Companies
With offices in Peoria, Scottsdale and Tucson, Plaza Companies is a full-service real estate firm specializing in the management, leasing and development of medical office and commercial office properties, technology and bioscience facilities, mixed-use properties and senior housing communities. Since 1982, Plaza Companies has established a proud track record as a competitive, connected and conscientious real estate firm with partnerships throughout the industries it serves. For more information, visit www.theplazaco.com.
About Holualoa Companies
Holualoa Companies is a real estate investment firm focused on the successful acquisition, repositioning, redevelopment and disposition of real estate assets. Headquartered in Tucson, Arizona, with offices in Phoenix, Santa Monica, Hawaii and Paris, its investments span the United States and Europe and include office, retail, industrial, multi-family, hotel and mixed-use investment properties. Holualoa is an experienced investor for its own account and on behalf of a select group of private investors.
