New Hyatt Place Hotel Coming to Cornerstone
Published on May 26, 2021
Coral Springs, FL – The City of Coral Springs Economic Development Office (EDO) and Predesco Property Investments, LLC are excited to announce plans for a state-of-the-art Hyatt Place hotel for the Cornerstone development in Downtown Coral Springs.
Regarding the addition of the Hyatt Place brand coming to Cornerstone in Downtown Coral Springs, Rod Sheldon, President of Predesco Property Investments, LLC, said, “The new Hyatt Place hotel will be the crown jewel of Downtown Coral Springs. With plans for a rooftop bar and state-of-the-art amenities, residents and visitors will flock to the heart of the city to experience all the hotel has to offer.”
The Hyatt Place hotel will be developed by ADËLON Capital. ADËLON is a vertically integrated real estate investment, development, and asset management firm headquartered in South-Florida and with a branch office in Mexico City. Guillermo Buitano, CEO and Founder of ADËLON Capital, said, “We are very excited to be a part of this project and part of the development of Downtown Coral Springs.” Jonathan Cohen Rabinovitz, Founder and Co-Chairman, added, “We strongly believe that Hyatt Place Coral Springs, our thirty-second hotel, will add value to the city and to our hospitality portfolio.”
The hotel will be managed by AD1 Management, one of the fastest-growing providers of property management in the industry throughout Florida and the East Coast. Daniel Berman, Founder and President of AD1 Management, said, “We have a great relationship with Hyatt, and we are very proud to add to our portfolio such an amazing property. Our commitment will be to create memorable stays and unforgettable experiences through exemplary management and service. By doing so we will contribute to enhancing Coral Springs as a destination.”
The demolition of the Financial Plaza is nearly complete, making way for the construction of Modera, a 352-unit luxury rental project by Mill Creek Residential. In addition to the residential construction and plans for the Hyatt Place hotel, Sheldon looks forward to the construction of a signature office building at the corner of Sample Road and University, as well as space for retail and entertainment.
Of the announcement, Kristi Bartlett Director of Economic Development, said “We are excited to welcome Hyatt Place Coral Springs as the next piece of the Cornerstone mixed-use development. The inclusion of an upscale, select service hotel adds to the downtown transformation and makes it a true destination in Coral Springs.”
The construction of Modera is expected to be completed by the start of Summer 2023 and construction on the Hyatt Place hotel will begin approximately six months later.
As new businesses and corporations sign contracts with Predesco Property Investments, LLC, the Office of Economic Development will jointly announce them through press releases with the developer. Stay informed about Cornerstone and other development projects through our Economic Development Office website.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
ABOUT HYATT PLACE
Hyatt Place hotels combine style, innovation and 24/7 conveniences to create an easy to navigate experience for today’s multi-tasking traveler. Guests can enjoy thoughtfully designed guestrooms featuring distinct zones for sleep, work and play, and free flowing social spaces that offer seamless transitions from work to relaxation. With more than 385 locations globally, Hyatt Place hotels offer freshly prepared food around the clock, efficient service and differentiated experiences for World of Hyatt members. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the issuer of this release, are inherently uncertain. You are cautioned not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. Neither the issuer of this release nor any other entity associated with it or its subject matter undertakes any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.