- September 20, 2019
Last Tuesday, SRDD Law celebrated the grand opening of the Hyatt Place Poughkeepsie, a Commercial Real Estate client of the firm. For more than four years, the firm worked on many facets of the project from town approvals all the way through the construction process. “We were honored to attend the Ribbon Cutting Ceremony and celebrate the benefits of having a hotel like the Hyatt Place within our community,” says Kenneth Stenger, Attorney, SRDD Law. The Hyatt Place Poughkeepsie is expected to intimately generate $500,000 a year in tax revenue and close to $500,000 a year in salaries.
Due to the complexities of the projects, several departments at SRDD were involved on the project with Kenneth M. Stenger as the lead attorney. SRDD Law was hired for the project due to Ken’s background in land use, commercial development and commercial litigation along with his knowledge of the local area. “Ken is the only attorney I know that could help with such a complex project and to be able to get the approvals needed to begin construction,” says Nicholas Licari, Associate Real Estate Broker, Houlihan Lawrence Commercial Group.
Working alongside of Ken was Jessica Glass from SRDD Law who oversaw the financing. The project, which had three different lenders providing a total of $10M in financing was a complicated financial matter to say the least. Ian Lindars and Darren Fairle handled problems with vendors and zoning issues with the town including the hotel signage. Working alongside of the attorneys was our real estate support staff who drafted easements and assisted with zoning documents.
If you haven’t been to the Hyatt Place Poughkeepsie, stop by and check out their amenities and offerings, but keep in mind, they are booked solid for the unforeseeable future! Read more about this project in our previous blog here.