It is no secret that Boston is one of the most difficult development markets in the country. With inflated costs and limited property availability, real estate development is a challenge. But as Boston continues to be a popular destination for travelers, business associates, students and others, the need for hotels to accommodate them and to meet their evolving needs has skyrocketed.
Rendering of future Cambria® Hotel in Somerville, Mass
The Choice Hotels Real Estate team was up for the challenge and was seeking unique properties in the Boston area that would quench the market need and be a successful investment for developers. The answer? A uniquely situated site in Somerville, MA, near Boston’s most renowned universities – MIT, Harvard and Tufts.
However, with the site being in a residential area, the seller originally planned to develop a multifamily property. With an in-depth knowledge of the local market, however, the Choice team worked with the seller and city to demonstrate the significant hotel demand in the area and the financial benefit to all parties involved when developing a fresh, modern hotel.
But what hotel could accommodate tech-savvy tourists, global business travelers, and millennial jet-setters? None other than the Cambria® Hotels. Designed for the modern traveler, Cambria Hotels offer guests a distinct experience with simple, guilt-free indulgences allowing them to treat themselves while on the road. Each property features compelling design inspired by the individual location, spacious and comfortable rooms, flexible meeting space, and locally-sourced freshly prepared food and craft beer. And the location just north of Boston highlights Choice Hotels’ commitment to expanding the Cambria brand in major urban markets and thriving corporate hubs, bringing modern travelers the upscale lodging experience they want and deserve.
Rendering, Cambria® Hotel Boston, Mass.
Rendering, Cambria® Hotel Boston, Mass.
Choice Hotels, alongside the developer, the Noannet Group, and lead architecture and design firm, CambridgeSeven, was able to get the site approved in under 120 days, with construction set to begin on August 1, 2019, with an estimated completion date of February 2021. The new 98,000 SF, 6-floor, 164-key upscale, select service hotel will mimic the vibe and energy of Greater Boston with sustainable materials, warm tones and modern amenities. The hotel will also house a 150-seat restaurant with outdoor seating and green space, making this site a destination for leisure and business travelers alike.
Because Choice Hotels is dedicated to developer success, a once challenging market turned into a significant investment opportunity – one that meets the needs of both the traveler and the developer.
Know of a strong urban or secondary market location? Have the perfect location for a Cambria Hotel? Contact Payton Reid – Payton.reid@choicehotels.com | 301.592.6767 – or visit us at ICSC RECon May 19-22, 2019 Booth S3269N.
About Cambria Hotels
The Cambria® Hotels brand is designed for the modern traveler, offering guests a distinct experience with simple, guilt-free indulgences allowing them to treat themselves while on the road. Properties feature compelling design inspired by the location, spacious and comfortable rooms, flexible meeting space, and local freshly prepared food and craft beer. Cambria Hotels is rapidly expanding in major U.S. cities, with hotels open in Chicago, New York City, Pittsburgh, Washington, D.C., and Los Angeles. There are more than 40 Cambria properties open across the United States, and over 100 hotels open or in the pipeline in the U.S. and Canada. To learn more, visit www.choicehotelsdevelopment.com/cambriahotels.
About Choice Hotels
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest and most successful lodging franchisors in the world. With more than 7,000 hotels, representing nearly 570,000 rooms, in over 40 countries and territories as of December 31, 2018, the Choice® family of hotel brands provide business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotelsdevelopment.com.
About The Noannet Group
The Noannet Group, a Boston-based real estate development and investment firm, was founded in 2011 with the mission of developing architecturally distinctive mixed-use, residential, and commercial buildings that enhance the communities in which they are located. For more information, visit www.noannet.com.