A joint venture between affiliates of Atlanta-based developer Songy Highroads, LLC and Hyatt Hotels Corporation has completed the acquisition of a site in Downtown Atlanta. Located at the corner of Luckie Street at Latimer Street, the site is situated directly across from the Georgia Aquarium and one block from Centennial Olympic Park. The abandoned two-story commercial building and public parking lot, which currently occupy two purchased lots, will be demolished.
The site location offers front-door access to some of the city’s best galleries, restaurants and attractions, notably, Centennial Olympic Park, which is undergoing an extensive $17M renovation expected to be completed in early 2019.
The site will be developed into a Hyatt Place hotel. Construction drawings, pricing, permitting, and financing disciplines are underway, with a construction commencement date to be determined.
“Downtown has always been a vital part of Atlanta’s business community and entertainment scene, but in recent years we’ve seen a renewed sense of interest and excitement for the area from visitors, locals and businesses alike” said Todd Nocerini, COO of Songy Highroads. “The popularity of tourism makes the Centennial Park District the perfect locale for a new addition to our portfolio.”
Songy Highroads has become a trusted partner of the Hyatt brand for developing upscale, urban hotels throughout the Southeast. In the past three years, it has built two Hyatt properties, a Hyatt Regency hotel and Hyatt Place hotel, adjacent to Houston’s Galleria shopping center, and the developer converted a downtown Washington, D.C., office building into a Hyatt Place hotel. Also, recently completed is the Hyatt Regency Fairfax hotel conversion and renovation in Fairfax, Va., and Hyatt House Nashville West End is currently under construction.
About Songy Highroads, LLC
Songy Highroads, LLC is an Atlanta-based commercial real estate firm that focuses on the acquisition, development and redevelopment of institutional-quality real estate projects primarily in the office and hotel sectors. Since 1992, Songy Highroads has completed more than $1.5 billion of acquisitions in Florida, Georgia, Louisiana, Tennessee, Texas, and Washington, D.C. For more information about the company, please visit www.songyhighroads.com.