Overview of Proposed Development Concept
Our concept is to develop a 205 Room Hyatt Full service Hotel along with a Signature, 7,000 SF restaurant overlooking and interacting with the new waterfront park our submittal proposes along Flagler Drive. The site planning of our concept calls for the more public portions of the Project to be located along the southwestern portion of the Site, allowing physical and visual connectivity to the energetic Clematis Street entertainment corridor.
The rooms are logically positioned to maximize the views to the waterfront while the height of the project is within the Five (5) Story limit imposed east of Olive Avenue in 196. We believe it makes more sense for the City to pursue an economically feasable solution which represents the current height restriction because this approach results in a total project of less than $100MM, a figure which is more likely to be financed in the current but still relatively unstable real estate capital markets. Projects exceeding $100MM are finding selective financing available in primary cities such as New York, San Francisco and Washington DC. West Palm Beach, while certainly attractive as an investment market, is still considered a secondary market for which very large capital commitments would be more difficult to secure.
In addition, proceeding under the current Five (5) Story limit allows Proposer to move through the development process briskly and thus open for business in Spring, 2014. Any delays to gain public approval of a change to allow a Fifteen (15) Story height will serve to prolong the development period by both the time required to seek the public approval and the additional construction time required for the larger concept (10 additional levels of construction).
We believe a “market window” exists now to deliver a well branded, full service hotel on a high quality site in West Palm Beach (such as the former City Hall site) and that any delays in beginning this development pose more risks than benefits to the City.
Design Architect’s Statement
The architectural style of the proposed hotel is an essentially contemporary theme, using vertical and horizontal articulations to create significant massing interest. Employing generous amounts of glass, the hotel graciously opens itself up to the park, especially through the use of slightly raised public plazas and terraces, which flow out into the Park. Carefully placed balconies have been used to articulate the primary facades, each being configured in a way that is most appropriate to the geometrical mass upon which they sit. The use of thin eyebrows and overhangs reinforces the contemporary theme and provides shade elements to certain areas of the building. The inclusion of an open bar element at the roof level creates a special focal point to emphasize the semi-circular building mass on the southeast corner, while providing a unique opportunity for color and landscape at the roof level.
The use of complimentary pastel colors in conjunction with off-white tones reinforces the rhythm of the special massing elements of the facade of the Project. The entire entry experience is paved with special pavers to differentiate vehicle and pedestrian areas and to create a strong open and inviting “first impression” along the Banyan frontage.