Byline: Finance and Commerce Staff
By Matt Johnson, Brian Johnson and William Morris
Hotel developers have added about 6,500 new rooms to the Twin Cities area since 2012, many motivated by a new Minnesota Vikings football stadium and by the market's high occupancy rate.
The metro area hotel market now has about 43,700 rooms open, according to the most recent data from Tennessee-based STR.
More are on the way in high-profile projects in downtown Minneapolis, downtown St. Paul and in Bloomington near the Mall of America. In southern Minnesota, Rochester has joined the hotel rush with several new hotels under development.
The Finance & Commerce staff compiled a list of 10 hotel projects in development, under construction or recently completed that will compete for guests in the coming year or two.
One project not in this listing is a planned 280-room Four Seasons Hotel to be part of United Properties' future Gateway tower at 30 Third St. S. in downtown Minneapolis. The developer recently announced Four Seasons had committed to building a luxury hotel in the project. Construction could start next spring.
The Elliot Park Hotel
Location: 823 Fifth Ave. S., Minneapolis
Developer: Wilkinson Corp. and Kraus-Anderson
Owner: Wilkinson Corp. and Kraus-Anderson
Cost: $29.5 million (building permit value)
The Elliot Park Hotel put the cherry on top of the redeveloped Kraus-Anderson block in downtown Minneapolis.
The hotel, which opened in September, is the last component of a full-block redevelopment that includes a new headquarters for Kraus-Anderson, the 17-story HQ apartment tower and the Finnegans Brew Co. The hotel is on the corner of Ninth Street and Fifth Avenue.
Designed by Minneapolis-based ESG Architects and operated by Coury Hospitality, the eight-story hotel offers a fireside lounge, event space, meeting rooms and a fitness center, according to Kraus-Anderson.
Valet service and the street-level Tavola Italian restaurant space are accessible from Fifth Avenue.
Titan Hilton (Broadway at Center)
Location:10 Center St. E., Rochester, Minnesota
Rooms:264, including 78 luxury suites
Developer: Titan Development and Investments and Harbor Bay Real Estate Advisors
Owner:Legacy Fund I LLC
Titan's 19-story downtown hotel is nearing completion and is scheduled to open in April. The Hilton, one of several hotels proposed or under construction in Rochester, is in the city's Destination Medical Center district and will be the first of a wave of new high-end hotels near the headquarters of Mayo Clinic. Kraus-Anderson Construction is the project contractor.
Location:708 Third St. S., Minneapolis
Developer/owner: Sherman Associates
Minneapolis-based Sherman Associates is on track to complete construction by the end of this year on a Hilton Canopy hotel in the...