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Despite the general contractor’s high-profile bankruptcy filing, the developer of the Hyatt Centric Austin boutique hotel promises that the property will open as planned next year.
Houston-based construction startup Katerra filed for Chapter 11 bankruptcy protection on June 6, five days after news reports indicated that the company was ceasing most of its US operations.
Hyatt Centric Austin general contractor Katerra recently informed key stakeholders that many of its US projects are being “demobilized”. But the company didn’t say if the Hyatt downtown lot was one of those projects.
However, McWhinney, the Denver-based developer of the Hyatt Centric Austin, says he is “still determined” to open the Congress Avenue hotel in early 2022.
“The construction team stays in place with our trading partners, and together we are committed and active to keep the project on schedule and we do not expect any significant delays,” said Don Larsen, Executive Vice President of Construction Management and Project Delivery at McWhinney, it said in a statement to CultureMap.
Construction of the first Hyatt Centric Hotel in Austin began in November 2019. The 31-story, 246-room property is being developed by McWhinney in collaboration with Hyatt Hotels and Nelsen Partners on Congress Avenue and Eighth Street.
Features of the hotel include:
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4,450 square meters of restaurant and entertainment space on the ground floor.
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Bar on the second floor.
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On the 8th floor there is an outdoor lounge and bar.
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3,000 square meters of conference space.
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1,400-square-foot presidential suite.
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Interior design “Austin Boho Chic”.
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Collection of curated art by local artists.
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No parking garage.
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