10-04-2013 08:47 PM

Opening of Hyatt Place hotel at SKYE Condominiums delayed


The debut of the Hyatt Place Charlotte/Downtown*hotel has been postponed to later this month.




The debut of the Hyatt Place Charlotte/Downtown hotel has been postponed to later this month.
The opening of the 172-room hotel had previously been announced for September.
A spokeswoman for the project says the opening was pushed back because of construction delays from rainy weather earlier this year.
A Hyatt website says the hotel will start accepting reservations for Oct. 15 “and beyond.”
The hotel is stacked within the SKYE Condominiums mixed-use development at Third and Caldwell streets.
That’s the property formerly known as The Park project that sat unfinished for years. The building was originally designed by Pete Verna for 106 condo units, but the project stalled in January 2008. Verna then lost the property after his development company, 222 South Caldwell Street Limited Partnership, defaulted on $28.5 million owed on a $30.7 million construction loan.
In October 2009, Small Brothers Charlotte closed on the $4.5 million purchase of The Park, a considerable discount from the $14.2 million price paid by the project’s lender during a foreclosure auction. Small Brothers renamed the project and had it rezoned to allow for a hotel component.
Susan Stabley covers growth, the environment and residential real estate for the Charlotte Business Journal.


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