According to a hotel representative, Hyatt Hotels Corp. plans to demolish and rebuild the hotel to gain a competitive edge in the city. The hotelier also plans to construct 302 new apartments, including 60 affordable housing units, on the 16-acre El Camino Real site. The new hotel would increase the hotel's size by approximately 23%.
Twenty percent, or about 60 apartments, would rent for below market rates. Hyatt has been planning the change for six years. The new hotel would be 23% larger than the current one, according to the proposal.
The Palo Alto City Council will vote on the project's plans this spring. If the project is approved, the hotel hopes to complete construction by late 2006.
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