Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
Margaritaville is launching a new brand, Compass by Margaritaville, with its debut property going up in Florida. Read the Hotel Management online story here
Macy’s will open new off-price Backstage shops in two of its full-line department stores in the Dallas-Fort Worth market and also open the first of three planned locations in Nevada, The Dallas Morning News reports. The openings are part of the department store’s plan to
Construction of a 77-room Fairfield Inn & Suites hotel started in the last couple weeks in downtown Midland and is expected to be complete mid-April. The 14,066-square-foot hotel site plan from Wolgast Design Group on behalf of Davis Lodging, VII, LLC was approved by the
Construction on a new $43-million hotel in downtown Grand Rapids is beginning. The 155-room Canopy by Hilton will be built at 131 Ionia Ave. SW, adjacent to the piazza in the pending Studio Park project. Read the WZZM-TV story here
MCR has raised $1 billion to create a 50-property portfolio consisting of Hilton– and Marriott-branded properties. The company will buy 25 hotels by the end of the year. Read the U.S. News & World Report/Reuters story here
Hudson’s Bay Co. is closing 10 Lord & Taylor stores, including the Fifth Avenue store in New York that it sold to WeWork; it had originally planned to keep the store open in part of the building. The retailer would not yet say which other
Hotel construction is up in South Florida with a number of properties slated to come online this year, amid heightened demand following last year’s hurricanes. Read The Real Deal online story here
Construction spending has increased 7.6% year over year after rising 1.8% in April, according to the Commerce Department. It was the largest increase since January 2016, and spending on nonresidential construction rose 0.8% in April. Read the Reuters story here
The future of the Ritz-Carlton, Naples may include an expansion. The beachfront resort — one of the oldest in the Ritz family — will close for nearly 70 days starting June 25 for a face-lift. But its owners are considering an expansion down the road.
Nestled in a bustling block on Madison’s near east side, the Marquette Hotel opened for business and is nearly at full occupancy. Read the Wisconsin State Journal story here
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