302-room Hotel to Open on Light Rail Line in Early 2016
ST. PAUL, MN – June 18, 2014
McGough announced today the forthcoming development of a new Hyatt Regency hotel on its Bloomington Central Station mixed-use development site. The 302-room property, to be operated by Aimbridge Hospitality, will be the next in a series of transit-oriented projects located at Bloomington Central Station, a 50-acre redevelopment site on the METRO Blue (Hiawatha) Line in Bloomington, Minnesota. The project will break ground in fall of 2014 and is expected to open in early 2016.
“Hyatt Regency Bloomington Central Station is a key part of the city’s vision for the Bloomington South Loop District,” said Bloomington Mayor Gene Winstead. “Bloomington Central Station is a wonderful model for the potential of transit-oriented development, and we’re proud to be the site of such a unique redevelopment effort.”
The full-service hotel will serve as the center point of the growing work-live-connect-play community currently anchored by the HealthPartners corporate office campus, Reflections Condominiums, and a two-acre central park. It will cater primarily to business travelers. Positioned between the Minneapolis-St. Paul International Airport and the Mall of America, it will offer convenient and fast access to both of these destinations, as well as to downtown Minneapolis, via light rail.
“We are excited to be able to bring to the market a hotel of the Hyatt Regency brand’s caliber that can offer unique proximity and access to major traveler landmarks, yet provide sanctuary from their hustle and bustle and complement nearby corporate and residential projects” said Greg Munson, Executive Vice President of McGough.
McGough is also “optimistic that the vision for Bloomington Central Station will soon be rounded out with the addition of multi-family rental product,” said Mark Fabel, McGough’s Vice President for Development, referring to the company’s advancing discussions with Lennar Multifamily Communities around a proposed 415-unit apartment complex that would break ground around the same time as the hotel and further frame the site’s Central Park.
McGough will be Hyatt Regency Bloomington Central Station’s owner and builder. Its project financing partners include a group of local trade union pension funds, advised by WhiteStar Advisors, LLC, and Bank of the Ozarks.
McGough is a premier commercial construction and full-service real estate firm headquartered in St. Paul, Minnesota with branch offices in St. Cloud and Rochester, Minnesota; Cedar Rapids, Iowa; and Phoenix, Arizona. The company’s Bloomington Central Station development occupies 50 acres east of the Mall of America and, in addition to its existing projects and projects in progress, has a master plan that calls for 420 more residential units and two million square feet of office space in the years ahead. To learn more about McGough, visit www.mcgough.com.