The property immediately west of the Steelyard just went under contract to the NewcrestImage hotel group out of Dallas, which is the owner of the impressive Holiday Inn Express just wrapping up construction two blocks away.

Originally, Hyatt corporate planned to develop the parcel for a Hyatt Place but then decided to pass the deal on to one of this preferred franchise operator.

Although the development is still likely to fly the Hyatt Place flag, there is also the possibility it will end up as another hotel brand.

I understand the scale will be in the neighborhood of 6 stories and 180 rooms, although plans are very preliminary.

The hotel will be developed completely separately from the Steelyard, with their own architect and design.

The group is in the initial stages of their due dilgence which will take at least 90 days.

http://www.newcrestimage.com/index.html