- Funding Needed
- $34.8 (Mio)
- EB5 Funding
- $17.5 (Mio)
- EB-5 Investors
- 35
- Investment Amount
- $500,000
- Job Creation per Investor
- 14.4
- Job Creation (Total)
- 505
- Category
- Accommodation and Food Services
- Sub-Category
- Hotels (except Casino Hotels) and Motels
- State
- Minnesota
- Location
- St. Paul, Minnesota.
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Hyatt Place Hotel, St. Paul, Minnesota
- Developer Name
- Red Leaf Development & Exeter Group LLC
Project Description
This project involves the rehabilitation and repurposing of a former U.S. Post Office in St. Paul, Minnesota and is today known as “Custom House.” This seventeen story building features over 700,000 square feet of space and will be converted to a 152 room Hyatt Place hotel on the lower floors with the upper floors being converted to rental apartments. A parking structure will also be built.
Project Timeline
Property Acquired : August 2013
Historic rehab approval :
a. Part 1 approved in December 2013
b. Part 2 approved in June 2014
Start of interior demolition : May 2015
Start of full construction : July 2015
End of construction : September 2016
Operational business : 2016
Regional Center
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