Holualoa Companies, LaPour close on land deal for new Phoenix hotel
Jan 19, 2025, 5:45 AM | Updated: Jan 20, 2025, 6:40 am
Holualoa Companies and LaPour Partners have closed on the land acquisition to pave the way for a new dual-branded AC Hotel by Marriott and Element by Westin at the fast-growing CityNorth development in Phoenix.
City North Hotel LLC, an entity linked to Holualoa and LaPour, paid $5.94 million for the 3.58-acre plot of land on the southwest corner of Deer Valley Drive and 16th Street in north Phoenix, according to Tempe-based real estate database Vizzda. The land deal closed on Jan. 7.
The project developer for CityNorth is California-based Crown Realty and Development.
The eight-story hotel development will feature 240 guest rooms with 5,700 square feet of flexible indoor-outdoor meeting space. The AC Hotel by Marriott will offer 142 guest rooms, while Element by Westin will offer an additional 98 extended stay guest rooms.
Groundbreaking for the hotel project is planned for summer 2025, with an estimated completion date in January 2027.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.