A partnership between Olshan Properties, CV Properties and Harbinger Development has plans to develop the Canopy by Hilton Boston Downtown, a 212-room boutique hotel to be built across from the Rose Kennedy Greenway in Downtown Boston.
JLL arranged $75 million in construction financing for the development.
Canopy by Hilton offers a local experience with a boutique hotel feel. The six-story Canopy by Hilton Boston Downtown will feature a fitness center, 1600 square feet of meeting space, three street-level restaurant/retail spaces totaling 12,711 square feet, one of which will have access to an outdoor terrace that faces Hanover Street; and a second-floor hotel operated café/bar.
The property will be built on a 1.2-acre site bounded by Hanover Street to the north, Blackstone Street to the west, North Street to the south and the John Fitzgerald Surface Road and Rose Kennedy Greenway to the east. The hotel’s central, downtown location provides guests with access to a diverse set of demand drivers, including Faneuil Hall, the Financial District, Back Bay and more. Additionally, Boston’s famed Freedom Trail abuts the site and connects the property to international tourist attractions.
According to JLL’s Hospitality Construction Outlook for the second half of 2019, new hotel projects are focusing on specialization to fit their particular location and target market. This can include much smaller room sizes, lobbies with integrated bars and restaurants and more outdoor space, all of which impact cost to build and type of materials needed for a project.
