2015 Opening Planned for Ace Hotel in Pittsburgh’s East Liberty
Plans for the $23 million conversion of the former East Liberty YMCA building into an Ace Hotel are moving forward. According to the Pittsburgh Post-Gazette, the city’s Urban Redevelopment Authority recently approved a $75,000 facade grant for the upcoming 63-room hotel at 120 S. Whitfield St., which will include a restaurant, a ballroom and a fitness center. Construction will also be financed through $11.5 million in new markets tax credits.
Nate Cunningham, manager of ELDI Real Estate LLC, which is a partner on the project, told the newspaper that the new boutique Ace property could open by the spring of 2015.
The trendy Portland, Ore.-based hotel chain has locations in London, New York, Panama City, Palm Springs, Portland, as well as Seattle, and plans to open a new property in Los Angeles in January.
“They have a very unique positioning. They’re probably the hottest new hotel in the United States and potentially even internationally. So we are very lucky to have them come here and be interested in Pittsburgh,” Cunningham added.
In other hotel news, the Pittsburgh Business Times reports that a new 155-room Hyatt Place hotel is slated to rise on a four-acre parcel of land next to the Meadows Racetrack & Casino in North Strabane.
Meadows Hotel Associates LLC, a privately owned hotel development firm based in Pittsburgh, recently purchased the site of the new development from The Meadows Racetrack & Casino. Construction is expected to begin before the end of the year.
Upon completion, the project will also feature a pedestrian bridge connecting the hotel to the racetrack and casino.
“Our team has been working hard to bring this project to reality,” William Paulos, co-founder of Las Vegas-based Cannery Casino Resorts, parent company of The Meadows Racetrack & Casino, said in a press statement. “The hotel will offer our guests an extra level of hospitality, while supporting Washington County and the region’s economy.”
Photo credits: www.acehotel.comTags: ace hotel, Acquisitions/Dispositions, Commercial, Consumer, Developers, Development, economy, ELDI Real Estate LLC, Finance/Investment, Hospitality, Hyatt Place, Investors, Local, Managers, Meadows Hotel Associates LLC, Meadows Racetrack & Casino, National, Owners, Pittsburgh hospitality, Pittsburgh Lead Story, Professional, property management, Regional