Convention Center Hotel Breaks Ground

Convention Center Hotel Breaks Ground

The new Convention Center Hotel broke ground last week in NE Portland. The 600-room, 32,000 square foot hotel will be located on the corner of NE Holladay St. and NE Martin Luther King Blvd. The $240 million hotel will be owned and operated by Hyatt Hotels Group and is being funded from a combination of public and private sources. Oregon Metro will contribute $60 million in bonds (which are backed by lodging taxes generated by hotel guests), Hyatt/Mortenson Development is contributing $165 million, and an additional $4 million and $10 million will come from Metro's Convention Center reserves & lottery funds, respectively.

 

Read More:
OPB.org: Oregon Convention Center Hotel Project Breaks Ground
Commercial Property Executive: Ground Breaks on $224M Hotel in Portland