WASHINGTON, DC—It's official. Douglas Development's proposed 13-story hotel at 1011 K St., NW is moving forward.
Providence, RI-based TPG Hotels & Resorts has been selected as the operator. The flag, as Douglas Development noted in its submission to the DC Board of Zoning last year, will be the first Moxy hotel in Washington DC. Moxy is one of Marriott International's new brands aimed at attracting younger travellers and now it's arrival in the District is formally a go. TPG Hotels will provide technical development services through the construction. The hotel is scheduled to deliver in Q1 2017.
Currently there are four late 19th century properties at the site, abandoned and fenced off. Douglas plans to restore these buildings and incorporate them into the hotel structure.
TPG is one of the top US hotel management companies. It has several properties currently under development including California's first Marriott AC Hotel in San Jose and projects in New Orleans and Providence.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
