Staff Reports | Business & Commerce
Plaza Companies and Fayth Hospitality have unveiled plans for a new dual-brand hotel development in the north Phoenix area, with anticipated Hilton flagships Tapestry Collection and Homewood Suites by Hilton.
The project is located on a prime 8.15-acre parcel at the southeast corner of 64th Street and Mayo Boulevard, recently acquired from K. Hovnanian, according to a press release.
The two new hotels will feature a combined 254 guest rooms, designed to serve the growing demand from local, national and international tourism as well as visitors seeking care at the high-quality medical facilities in the area. The hotels will be operated by Fayth Hospitality and are in the brand application process with Hilton.
Plaza Companies, known for its extensive experience in commercial real estate development, will also serve as the design and construction manager, overseeing the building process to ensure the project is completed with the highest quality, on time and within budget.
“This project reflects the tremendous momentum in the North Phoenix area and the ongoing success of our strategic partnerships,” said Sharon Harper, Chairman and CEO of Plaza Companies. “Following our impactful work at Park Central, we’re excited to bring a similarly dynamic development to this vital corridor and bioscience hub in Phoenix.”
Located adjacent to major institutions like Mayo Clinic — which recently announced a $2 billion expansion — as well as Brooks Rehabilitation Hospital, which broke ground last month, and the ASU Discovery Oasis Innovation Zone and Health Futures Center, the newly announced hotels will serve as a hub for healthcare-related stays. Other area medical facilities include a planned new hospital by Banner Health that will include a Banner MD Anderson Cancer Center and HonorHealth Scottsdale Thompson Peak Hospital.
The Tapestry Collection and Homewood Suites by Hilton brands represent Hilton’s lifestyle and extended stay offerings, aligning with the needs of a diverse and evolving visitor base in the area.
Positioned within the Hilton lifestyle category, Tapestry Collection properties embrace the character of their local surroundings and deliver a balance between boutique charm and the consistency of a major brand, catering to guests who prioritize design, cultural connection, and memorable experiences alongside high-quality amenities.
Homewood Suites by Hilton is an award-winning extended-stay brand offering spacious, residential-style accommodations with fully equipped kitchens, separate living areas, and complimentary breakfast for both short- and long-term guests.
“We’re seeing increased demand for quality hospitality offerings in this area, especially ones that blend lifestyle appeal with extended-stay flexibility,” said Greg Fay, managing partner of Fayth Hospitality. “These hotels are thoughtfully planned to serve the diverse needs of this unique market, and to serve as a true amenity to the growing Phoenix and Scottsdale markets.”
The new project comes fresh off the launch of the new dual-branded Tru and Home2 Suites by Hilton hotels at Park Central in central Phoenix, a project managed by Fayth Hospitality and co-owned by Plaza Companies and Fayth Hospitality.
“The addition of this new hotel near the Mayo Clinic Campus is a significant milestone for our city’s continued growth and innovation,” said City of Phoenix Community and Economic Development Director Christine Mackay “It will not only support the increasing number of visitors and patients coming to this world-class medical destination but also create new jobs and elevate the hospitality experience in North Phoenix. We’re proud to welcome this investment into our community and look forward to the positive impact it will have for years to come.”
The project is part of a 44-acre parcel recently purchased by K. Hovnanian in a state land auction at the southeast corner of Mayo Boulevard and 64th Street.
“This hospitality component will be a key feature for the area,” said Michael Fulmer, K Hovnanian Homes’ Phoenix Division President. “We are pleased to work with such a highly regarded Arizona-based company in Plaza Companies as well as a group with the expertise of Fayth Hospitality, to bring these brands to life and to provide an important new amenity to visitors.”
Brokerage services were provided by Michael A. Lieb, Ltd and Plaza Del Rio Management Corp.
“As the original applicant on this Arizona State Land parcel I am excited to bring together this exciting mixed-use project with K Hovnanian for the luxury housing and an upscale hotel with the Plaza Companies and Fayth Hospitality. These high-end uses will be a crucial complement to the adjacent Mayo Campus,” said Michael Lieb.
