The Port of Vancouver USA announced this week that it has selected Vancouver-based Vesta Hospitality as the preferred hotel developer for the port’s Terminal 1 waterfront redevelopment project. Additionally, Holland Partner Group, also based in Vancouver, was selected as the preferred master developer of a mixed-use complex for the 10-acre development.
Vesta Hospitality’s proposal includes the construction of an AC Hotel by Marriott, a European-inspired lifestyle brand, which migrated to the U.S. for the first time in late 2014.
If Vesta’s proposal comes to fruition, it would be one of the only AC Hotels by Marriott on the West Coast (a downtown Portland location is currently under construction).
The Holland Group, a fully-integrated real estate investment company developing large scale mixed-use projects in areas ranging from Seattle to Los Angeles, offered a number of options in its proposal, emphasizing sustainable, high-quality facilities and a community vision.
“We are pleased to work with such high-quality, local companies that truly understand the importance of the Terminal 1 property,” said port CEO Todd Coleman in a press release. “We received top-notch interest in both the hotel and master developer Requests for Qualifications, and we’re fortunate that the two best proposals came from local talent with superb national reputations. We look forward to collaborating and moving forward with a shared vision.”
Both developers will now work in collaboration with the port and its consultant, NBBJ, to complete a Concept Development Plan (CDP) and Development Agreement with the city of Vancouver.
