JT-MI
October 14th, 2006, 08:28 PM
Downtown Minneapolis hotel is getting a sister
Susan Feyder, Star Tribune
Mozaic, proposed developement
http://img.photobucket.com/albums/v729/JT-MI/Uptown1-1.jpg
The owner of the Graves 601 Hotel in downtown Minneapolis is expanding into Uptown with a new upscale hotel that will be part of a residential and retail complex to be built on the site of the Lagoon Theater.
Graves Hotels Resorts said Thursday that it will co-own and manage the 140-room, seven-story Graves Uptown Hotel that will be part of Mozaic, which is being developed by the Ackerberg Group and CAG Development. All three businesses are based in Minneapolis.
Work on the project, which also will include a new Lagoon Theater, is to begin in January with completion expected about December 2008.
The development consists of two buildings tucked into the block bounded by Lagoon, Hennepin and Fremont Avenues and the Midtown Greenway. The only building to be razed will be the theater, which will be replaced by a new one on the hotel's ground floor.
A half-acre plaza will connect that building to a 10-story condominium tower. The hotel accounts for about one-third of the project's $150 million cost.
Developer Stuart Ackerberg said the developers were approached by other hotel companies, but chose Graves because they liked its edgy, design-oriented approach to hotel luxury. Ackerberg said the developers also felt that Graves, whose principals live in Minneapolis, best understood the local market.
The new hotel marks the first step by Graves Hotels to expand its brand beyond its flagship on First Avenue at Sixth Street. That hotel opened in 2003 as a franchisee of the Le Meridien chain but was renamed the Graves 601 last year. CEO Jim Graves has said he wants to eventually have about 20 hotels operating under the Graves name.
Two others are in the works, according to Graves' son Ben, who is president of Graves Hotels Resorts. Construction is to begin early next year on a 220-room Graves hotel and condominium complex on Chicago's Near North Side, while another hotel with at least 240 rooms is being planned for New York's Soho neighborhood. Graves also is scouting sites in San Diego and Scottsdale, Ariz.
Rooms at the Uptown hotel will have marble floors and bathrooms furnished with large soaking tubs. About half of them will have outdoor terraces. The hotel also will have a 5,800-square-foot ballroom that will open to a garden area with a pool and lounge, a 6,000-square-foot spa and a 150-seat fine-dining restaurant. Ackerberg said Mozaic also will have other restaurants on the ground level of the condo building.
Susan Feyder • 612-673-1723 • sfeyder@startribune.com
Susan Feyder, Star Tribune
Mozaic, proposed developement
http://img.photobucket.com/albums/v729/JT-MI/Uptown1-1.jpg
The owner of the Graves 601 Hotel in downtown Minneapolis is expanding into Uptown with a new upscale hotel that will be part of a residential and retail complex to be built on the site of the Lagoon Theater.
Graves Hotels Resorts said Thursday that it will co-own and manage the 140-room, seven-story Graves Uptown Hotel that will be part of Mozaic, which is being developed by the Ackerberg Group and CAG Development. All three businesses are based in Minneapolis.
Work on the project, which also will include a new Lagoon Theater, is to begin in January with completion expected about December 2008.
The development consists of two buildings tucked into the block bounded by Lagoon, Hennepin and Fremont Avenues and the Midtown Greenway. The only building to be razed will be the theater, which will be replaced by a new one on the hotel's ground floor.
A half-acre plaza will connect that building to a 10-story condominium tower. The hotel accounts for about one-third of the project's $150 million cost.
Developer Stuart Ackerberg said the developers were approached by other hotel companies, but chose Graves because they liked its edgy, design-oriented approach to hotel luxury. Ackerberg said the developers also felt that Graves, whose principals live in Minneapolis, best understood the local market.
The new hotel marks the first step by Graves Hotels to expand its brand beyond its flagship on First Avenue at Sixth Street. That hotel opened in 2003 as a franchisee of the Le Meridien chain but was renamed the Graves 601 last year. CEO Jim Graves has said he wants to eventually have about 20 hotels operating under the Graves name.
Two others are in the works, according to Graves' son Ben, who is president of Graves Hotels Resorts. Construction is to begin early next year on a 220-room Graves hotel and condominium complex on Chicago's Near North Side, while another hotel with at least 240 rooms is being planned for New York's Soho neighborhood. Graves also is scouting sites in San Diego and Scottsdale, Ariz.
Rooms at the Uptown hotel will have marble floors and bathrooms furnished with large soaking tubs. About half of them will have outdoor terraces. The hotel also will have a 5,800-square-foot ballroom that will open to a garden area with a pool and lounge, a 6,000-square-foot spa and a 150-seat fine-dining restaurant. Ackerberg said Mozaic also will have other restaurants on the ground level of the condo building.
Susan Feyder • 612-673-1723 • sfeyder@startribune.com