JONESBORO, AR (KAIT) - Hyatt hotels has officially approved the Hyatt Place Hotel and Convention Center project in Jonesboro.
The 147-room Hyatt Place Hotel will be attached to a 40,000 square foot Convention Center. It will be built on I-555.
"This is an incredible milestone for Jonesboro and Northeast Arkansas," Construction Manager Chris Keller said in a release Monday. "Northeast Arkansas has never had a Hyatt brand of any sort. To bring a Hyatt product to the market is something we have been focused on for quite some time. They are a leading global brand in the hospitality industry, and we cannot overemphasize how excited we are to have them be a part of our convention center development."
The developers are planning at least one "upscale, full-service restaurant" inside the hotel also.
With the Hyatt approval secured, developers have been working with engineers and architects to move the construction process forward.
Documents are being finalized to allow the site plan to be placed on the agenda for the May 24th Metropolitan Area Planning Commission meeting, and construction documents and permitting will follow immediately.
"We are anxious to see red steel coming out of the ground as quickly as possible," Keller said.
The project is expected to be completed by 2017.
The Hyatt Place and Convention Center phase of the project is estimated to be a $27 million dollar project; with a second hotel budgeted at $15 million dollars to be built and connected to the convention center in Phase 2.
Developers estimate an additional $10 million in restaurant and retail development along the southern and western boundaries of the convention center site.
The entire development is estimated between $90-$100 million dollars.
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