New partnership will bring dual-brand hotels to Park Central
An exciting collaboration between public, private and nonprofit entities is bringing to life two new hotels at Park Central — with extensive community benefits as well.
The dual-branded Home2 Suites/Tru by Hilton hotels 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 before the end of the year.
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The team bringing the hotel to life includes a broad spectrum of entities with deep ties to the community, including:
• Plaza Companies, Holualoa Companies and Fayth Hospitality Group as co-developers
• Plaza as construction manager
• Fayth as operator
• Holualoa as asset manager
• Bell Bank as construction lender
• Layton Construction as contractor
The team is committed to the creation of training programs and mentorship programs, particularly assisting underserved and minority populations, and creating a talent pipeline for the community.
To promote job creation and training in the construction industry, Layton Construction will be partnering with City of Phoenix, Maricopa Community Colleges District to create new opportunities. For hotel operations and management, Fayth Hospitality will work with a local education partner to develop a training program and employment opportunities. Plaza Companies has also partnered with Maricopa Community Colleges District to create a course centered on the field of commercial real estate property management to introduce people to the industry and help address the shortage of property management professionals. Workforce development is a top priority for the City of Phoenix and the project team is proud to support that effort and work with the City to help the community.
“We appreciate the commitment by Plaza Companies, Holualoa Companies and the entire development team to work with community partners to support and expand job and career training,” said Phoenix Vice Mayor Laura Pastor. “This is the kind of public-private partnership that makes a difference in enhancing our community.”
The new hotels were originally announced right before the start of the pandemic and were paused by economic conditions at the time. However, the pause allowed the development team to rethink the approach to the project and involve more stakeholders to ensure its success.
“This is a truly unique partnership that will have a great economic impact creating new jobs and these hotel rooms will be a tremendous support to our neighbors at Creighton University Health Sciences Campus, St. Joseph’s Hospital and Medical Center, and Barrow Neurological Institute,” said Sharon Harper, of Plaza Companies, the company spearheading the Park Central revitalization effort alongside Holualoa Companies. “We are excited to create a new home away from home for patients seeking treatment and their families, students and professionals traveling for educational events, and other business travel. We are grateful for our partners including Bell Bank, the Phoenix IDA, and Layton Construction for their innovative approach to this project.”
Plaza Companies and Tucson’s Holualoa Companies have teamed up to redevelop Park Central into a vibrant destination, which once was the city’s first official large-scale shopping mall. The companies have transitioned the expansive space from a retail center to an almost 500,000-square-foot bustling community hub ideal for playing, working, congregating and celebrating the arts.
The new, dual-branded hotels 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 amenities. 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.
The new Park Central includes 500,000 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- to 25-foot ceilings, convenient bike path and light rail access and ample parking. For more information on the project, visit www.parkcentralphoenix.com.