A new 212-room Hilton-branded hotel will soon break ground at 111 North Street near the Rose Fitzgerald Kennedy Greenway.The joint venture between CV Properties, Harbinger Development, and Olshan Properties expects to complete the $200 million building by the middle of 2021.
The hotel will operate as a Canopy by Hilton, a brand that the hospitality colossus launched only last year with a Washington, D.C., development.
Canopy by Hiltons are supposed to be more integrated into their surrounding neighborhoods than other hotels from the company.
The 111 North site straddles Boston Haymarket area and the city’s historic North End, so it appears to be a good fit for the location.
Aside from the hotel, the project is also due to include 13,000 square feet of retail space and restaurant space. There will be a 2,500-square-foot bar and restaurant, too, with views of the Greenway and a glass wall that retracts.
The Canopy by Hilton will join a slew of planned hotel projects in Boston along the Greenway.
Developer Boston Residential Group plans to replace a surface parking lot at 55 India Street with a 12-story, 29-unit condo.
Other planned hotels include a Raffles-brand hotel in Back Bay, an expanded Onyx hotel in downtown, a Club Quarters in Back Bay, a citizenM hotel near TD Garden, and a new boutique hotel adjacent to Fenway Park.
What’s driving this hotel construction boom? Boston’s high occupancy and nightly rates—some of the highest in the United States—have quite a bit to do with it.
Also the fact that Boston-area hotels historically sell for substantial prices when owners and investors decide to check out.
