According to a report in USA Today, 2017 is shaping up to be a big year for hotel construction nationwide. An industry research firm Lodging Econometrics, predicts, “the top market by far is New York City, with an estimated 8,612 new rooms in the pipeline (this year).” It’s also going to be a big year for hotel openings on the Lower East Side.
One high profile project mentioned in the article is Ian Schrager’s Public Hotel at 215 Chrystie St. It’s expected to debut in the spring with 370 rooms and several restaurants and nightlife venues from star chef Jean-Georges Vongerichten. According to the website of the Joie de Vivre chain, its 229-room property at 50 Bowery is expected to open in March.
Other projects under development include a 178-room Ace Hotel at 225 Bowery and CitizenM’s modular hotel at 185 Bowery, which was in the news yesterday. The 210-room project is aiming for a mid-2017 launch.
New York City’s hotel construction boom peaked in 2014. Last spring, The Real Deal reported that it, “finally (crashed) as dozens of new hotels (came) online and developers (shied) away from planning new properties.” The new projects on the Lower East Side, of course, have been in the works for years.
