HOUSTON – (Realty News Report)– Satya, a Houston-based commercial real estate consulting firm, started construction for a 350,000-SF development for Hyatt Place and Hyatt House at the corner of Old Spanish Trail and Fannin Street in the Texas Medical Center. The project, located at 7329 Fannin Street in a Qualified Opportunity Zone, is slated for completion in 2022.
The property will have 159 hotel rooms at Hyatt Place and 139 extended-stay rooms under the Hyatt House portfolio. The 14-story will house the two different hotels under one roof.
“We look forward to opening the first Hyatt-branded hotel in the renowned medical center and offering a much-needed extended stay option for visitors from all around the globe,” said Sunny Bathija, CEO of Satya. “Just six miles from bustling Downtown Houston and two miles from the popular Museum District, business and leisure travelers will also be in close proximity to Houston’s most popular destinations.”
The project team includes Satya, owner and developer; Dallas-based G2, project architect; HarDam Hotels and The Mathis Group, project consultants; E.E. Reed Construction, L.P., contractor; and IBC Bank who is providing the financing.
Satya’s local portfolio of hospitality assets include: The Tru by Hilton in Cypress; La Quinta in Spring; and The Marriott near John F. Kennedy Airport in New York City.
Houston-based Satya, which has also been involved condo development, recently acquired a key development parcel in Galveston at the end of the Seawall.
Founded in 1999 by CEO Sunny Bathija, and Ameen Ali, Chief Financial Officer, Satya has completed more than 100 projects valued at more than half $1 billion in and around the Greater Houston area. Satya is focused on the acquisition of prime land development of high-quality commercial property assets for retail build to suit projects and custom developments.
Nov. 4, 2020 Realty News Report Copyright 2020
File: MedCenter: Satya Breaks Ground
File: Hyatt. G2, HarDam Hotels, Mathis Group, E.E. Reed Construction, IBC Bank, MedCenter: Satya Breaks Ground near Texas Medical Center.