HOUSTON – (Realty News Report) – Satya, a Houston-based commercial real estate consulting and development firm, has begun construction on a 350,000-square-foot mixed hospitality development at the corner of Old Spanish Trail and Fannin Street in the Texas Medical Center. Located at 7329 Fannin Street within a Qualified Opportunity Zone, the project is scheduled for completion in 2022.
The 14-story building will combine two Hyatt-branded properties under one roof: a 159-room Hyatt Place and a 139-unit extended-stay Hyatt House. Together, the dual-branded facility is designed to serve a variety of travelers, from short-stay business guests to extended-stay visitors connected to the medical center and surrounding institutions.
“We look forward to opening the first Hyatt-branded hotel in the renowned medical center and providing a much-needed extended-stay option for visitors from around the globe,” said Sunny Bathija, CEO of Satya. “The development’s central location—six miles from downtown Houston and two miles from the Museum District—will give business and leisure travelers convenient access to many of the city’s major destinations and medical facilities.”
The project team brings together local and regional expertise: Satya serves as owner and developer; Dallas-based G2 is the project architect; HarDam Hotels and The Mathis Group act as project consultants; E.E. Reed Construction, L.P. is the general contractor; and IBC Bank is providing construction financing.
Satya’s hospitality portfolio in the region includes the Tru by Hilton in Cypress, a La Quinta in Spring, and a Marriott property near John F. Kennedy International Airport in New York City. The firm’s local development work also extends into residential projects; most recently, Satya acquired a key development parcel at the end of the Seawall in Galveston for future condo development.
Founded in 1999 by CEO Sunny Bathija and Chief Financial Officer Ameen Ali, Satya has completed more than 100 projects with a combined value exceeding $500 million in and around the Greater Houston area. The company focuses on acquiring prime land and developing high-quality commercial properties, including build-to-suit retail projects and customized developments tailored to local market needs.
Nov. 4, 2020 Realty News Report. Copyright 2020.
File: MedCenter: Satya Breaks Ground
File: Hyatt. G2, HarDam Hotels, Mathis Group, E.E. Reed Construction, IBC Bank, MedCenter: Satya Breaks Ground near Texas Medical Center.