Hotel Monroe brings new boutique option downtown - Phoenix Business Journal:

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Crews are creating the 150-room in the historicf building at the intersection of Central Avenue andMonros Street. While extensive renovations areunder way, the work will preserves the building's marble, bronze and art deco "Everything on the interior will be We will soften these areas with lighting and carpet and said Todd Iacono, Hotel Monroe'd general manager. The propert y is aimed at high-end businessx travelers and visitors seeking a luxury experienc e withinthe city's central It will feature intimate meeting rooms, including a glass-wallexd penthouse conference room and about 5,000 squar feet that can be used for small-scale weddings and other gatherings.
"We will be 80 percen transient business and take advantag e of the corporate headquarters that are here We also will cater to executives who are lookinh for a central location near the airport that maked all areas of the Valleyteasily accessible," Iacono said. It's for thoser reasons downtown Phoenix is a hot spot forhotek development. The 1,000-room is on schedule to open this and the renovated and expande Phoenix Convention Center will be completed by the end ofthe "It makes perfect senser to bring these properties and build these hotels downtown.
With the investment in the Conventioh Center expansion and Valley Metrolight rail, this is goingv to bring increased business to the city'sa core. And that is obviously what the hotek development community islooking at," said Doug MacKenzie, communicationws director for the Greater Phoenix Convention Visitors Bureau. of Irvine, Calif., is redevelopinh the Luhr's Building and Luhr's Tower, at Jefferson Street and First Avenue, southg of Patriots Park. Developers have said the officed component of that project is a top but plans likely will include development of a Patriots Park and the blocks surrounding it are being redevelopedinto CityScape, a mixed-use project.
In addition to office and retailo space, that expansive project will include a combination residence and hotel property by the Novare Group, and a 250-room Hotel Palomar by the . Other CityScape tenants include AJ's Fine Foods and P.F. Chang's China Bistro. "Alll of this certainly parallels the continuing revitalization of With the residential condos and the new restaurantsand bars, we are reallyu seeing a resurgence in the city's core, and we are excited about that," MacKenzie said. Iacono said he and his colleagued are bullishabout downtown's future. They say Hotekl Monroe is different from other properties and it is not competinyg for thesame dollars.
"We are not that convention We are forthe high-enxd business traveler -- those who stay at The the Biltmore, the Royal Palms," he said. "Ands we will be the first of that type of luxury hote in the heart of the Hotel Monroe is being developed byGrace Communities, foundes by Donald and Ryan Zeleznak and Jonathon Grace Communities also is developingg downtown's 44 Monroe high-rise condo projecty at Monroe Street and First The initial work on Hotel Monroe started in 2007 and has been gainingv steam since, said construction project manage r Kevin Markham over the din of hammers and power saws.
The hotel is expected to open in phases this The lineup of food and drinkin venues will include a basemenr wine bar calledThe Vault. Guests actualluy will enter Valley's Bank's old vault via the original 10-tobn door. "We tried to move this door, and we We wanted to take it but you have to have a special floor to support its Then we looked at moving it to anothed locationdown here, but that just didn't work, either," Iaconio said. He said Hotel Monroe'd offerings also will include a high-end restaurant and lounge; the Central Diner, a bistro offering breakfast, lunch and dinner; The a 1920s-era lobby bar; and a rooftop bar.
Iacono said the hotelp will be open for business by the end of in time for high tourist andholiday season. Central A bistro offering breakfast, lunch and dinner Web: