PSU news by
Penn State's student blog

Topics

About

Hyatt Hotels Joins Fraser St. Construction Project

By Jenn Miller

A developer for the long anticipated Fraser Centre in downtown State College announced at Monday’s borough council meeting Hyatt Hotels has formally agreed to be part of the project.

“That’s a formal completion. Documents done, signed, sealed and that’s going to be a major part of our development,” says co-developer Gary Brandeis of Real Estate Capital Management.

Brandeis is one of the new developers and owners of the site on South Fraser Street at West Beaver Avenue. They took over the property in October and say the now vacant lot will be transformed into a 153-foot high structure with hotel, retail and residential space. The hotel entrance will be on Beaver Avenue.

Brandeis says developers are still in negotiations with retailers for the site.

The property will feature 26 residential units, which are expected to be owner-occupied, as opposed to general or student rentals. It was previously the site of Borough Hall, a parking lot and office building.

The mixed-use project has been in the works since 2008. The previous developer, Susquehanna Real Estate, had similar plans for the site. But the ambitious project never made it off the ground.

Brandeis says the goal is for retail space to be open in 2016, with the hotel and residential units following.

“We all want a good project. We all want a successful project. We’d rather do the right project, the best project, as opposed to rushing to get things done just for the sake of time,” says Brandeis. “We’re going to do it right. We’re going to do it properly. We’re going to do it to maximize our opportunity for success for all of those involved.”

Your ad blocker is on.

Please choose an option below.

Sign up for our e-mail newsletter:
OR
Support quality journalism:
Purchase a Subscription!

About the Author

StateCollege.com

Posts from our partner website StateCollege.com.

Comments

Other posts by StateCollege.com

Herwig’s Austrian Bistro Sets Closing Date

Owner Bernd Brandstatter announced in March that restaurant would be closing between June and August, but the final day of business has been moved up.

Former Penn State Football Player Denies Burglary, Assault Accusations

Spats Cafe Collaboration With Allen Street Grill Set For Grand Opening

Penn State Cruises Past Illinois 63-24

Miles Sanders, Trace McSorley, and Ricky Slade ran wild Friday night against Illinois, leading the Nittany Lions to a lopsided victory.

Miles Sanders Puts Together Breakout Performance Against Illinois

Sanders’ 6.97 yards per carry as Penn State’s starting running back is actually higher than his 6.7 yards per carry as Saquon Barkley’s backup.

Send this to a friend