Michael Achenbaum, the visionary behind New York-based Gansevoort Hotel Group, has partnered with Douglaston Development, SUSD and Hondo Enterprises to develop a full-service hotel at 45 Curtain Road in East London’s Shoreditch district, set to break ground early next year.
The $98-million project will have 120 guestrooms, a restaurant, bi-level bar, rooftop swimming pool and lounge, 24-hour fitness center, more than 6,000 square feet of meeting and event space and a tech incubator.
Architecture will be done by Dexter Moren Associates with interior design by Design DMU.
"I’m always seeking to expand my portfolio in emerging neighborhoods that have a vibrant social life where businesses can grow and flourish," said Michael Achenbaum. "Shoreditch aligns brilliantly with our vision for this project and we’re thrilled to break ground during such an exciting time for the neighborhood."
"Hackney Council’s Regeneration team has been working closely with Achenbaum and his team for two years to help realize their plans to build an exciting urban resort in Shoreditch. This successful collaboration has involved integrating this multimillion-dollar investment into our growing economy, creating jobs for local residents as well as contributing to the growth of the creative community in Hackney," said Cllr Guy Nicholson, Cabinet Member for Regeneration.
Royal Bank of Scotland provided debt financing for the development. The project is expected to create at least 150 jobs and is scheduled to break ground in the spring of 2014 with an opening slated for the following year.