Hyatt, apartments, offices planned for Royal Oak
Downtown Royal Oak may welcome a major new mixed-use development that includes a Hyatt hotel, apartments and office space, city and state officials said.
Trailhead RO, LLC is seeking to replace a former car dealership, vacant since 2008, on North Main Street with “a modern, mixed-use district that will include a 120-room Hyatt Place hotel and a mixed-use building with apartments, retail and office space and a parking deck,” the Michigan Economic Development Corp. said in a statement this week.
The group announced Tuesday a Michigan Strategic Fund approval of the project along with other efforts across the state.
The Royal Oak development project alone is expected to generate $48 million in total capital investment and create 144 jobs. A $4.5 million Michigan Community Revitalization Program loan would be used, the MEDC said. Royal Oak would support the project with up to $3 million in tax increment financing reimbursements, according to MEDC.
The plans have been in the works for several years and align with the city’s goal to attract 180,000 square feet of upscale office space by 2020, Mayor Jim Ellison said Wednesday night.
“It’s good for us in future plans for our development,” he said. “We’re really looking forward to it. We’re trying to recruit high-tech firms. … It’s going to work very well for us.”
Clearing on the site could begin later this year, Ellison said, adding the mixed-use building could help attract more businesses, while the hotel offers another lodging option for visitors in the area.
“It’s one of the things we were lacking for a long time: a good quality hotel for people to stay in,” Ellison said.
Representatives of Hyatt Hotels Corp. did not immediately respond Wednesday night to a request for comment about whether it is participating in the project.