John Moriarty begins construction of Hampton Inn and Suites in Florida

Published: 03-Jun-2010

Florida-based contracting and construction management company, John Moriarty & Associates has begun construction of the Hampton Inn and Suites hotel near Mary Brickell Village in Miami, Florida.

The 15-story hotel with 221 rooms will feature a 36,000-gallon cistern to harvest rainwater, a solar panel hot water system, dual-flush toilets, low-flow faucets, xeriscape landscaping, energy management systems, charging facility in the garage for electric cars, linen and towel reuse program, CLF and T-8 lighting.

The construction costs of the project are expected to be about $18 million. Other costs include $6.06 million for land, $3.94 million in furniture and equipment and $8 million in soft costs and financing. The project is being financed by Wells Fargo Bank through a five-year, $18 million construction mini-perm mortgage. A $5 million subordinated loan has been secured and the remaining amount is funded through investor equity. The hotel is expected to open in the fourth quarter of 2011.

John Moriarty & Associates specializes in luxury high-rise residential buildings, commercial office buildings and mixed-use projects.

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