Hotel Planned for Downtown Phoenix Parking Lot

Article originally posted on Phoenix Business Journal on August 9, 2019

A downtown Phoenix parking lot could soon be redeveloped into a hotel.

Mortenson has plans to build an eight-story, 240-key hotel on the 0.6-acre parking lot on the northeast corner of Second Avenue and Adams Street, said Nick Wood, a partner at Snell & Wilmer who is the attorney for the developer. The hotel will be a Hyatt Place branded hotel.

Wood said the project is already entitled for zoning for the hotel, and setback adjustments were recently approved. Now, the project needs site plan approval by Phoenix City Council before it can move forward.

“It’s exciting,” Wood said. “It will be the first Hyatt Place downtown.”

Mortenson was also the developer of the Hampton Inn & Suites Phoenix Downtown at 77 E. Polk St., and there has been “significant demand” for hotel rooms in the area, Wood said.

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Mortenson is planning to develop a Hyatt Place hotel on this small parcel near 2nd Avenue and Adams Street downtown.