HYDE PARK — A new seven-story hotel will start construction late this month, developers said at Tuesday’s 5th Ward meeting.
The 90-room hotel planned for 1401 E. 53rd St. is now just waiting for building permits to be approved, said Sara Masterson, vice president of hotel management for the Olympia Companies, which is partnering with Smart Hotels on the project.
“We’re hoping to break ground in the next few weeks,” Masterson said.
The $20 million boutique hotel is targeting an opening in spring 2018.
Some 55 people are expected to be employed in the hotel, and the restaurant and lounge that will dominate the western façade on the ground floor.
A restaurant tenant has not yet been announced.
The developers said they will honor their commitment to neighbors concerned about parking, which included running a free valet service for immediate neighbors to the garage at Harper Court, 1525 E. 53rd St., where the hotel will also have overflow parking once its 17 on-site spots fill up.