A subsidiary of McCarthy Building Cos. Inc. has been chosen to construct the $105 million Le Meridien hotel at Hayden Ferry Lakeside in Tempe.
The European-style hotel is a joint venture between Valhalla Development Corp., Sierra Hospitality and Adobe Development Partners. SunCor Development Co.’s Hayden Ferry Lakeside is a $1 billion, 17-acre, 1.95 million-square-foot master-planned, mixed-use project on the south shore of Tempe Town Lake.
McCarthy subsidiary Residential Constructors LLC will build the 14-story, 183-guest room hotel. The project includes 44 condominiums and a restaurant. The project is scheduled for completion in early to mid-2009.
McCarthy has been the general contractor on all phases of the Hayden Ferry Lakeside project, including the high-end Bridgeview and Edgewater condominiums and the second phase of the project’s commercial/retail complex. St. Louis-based McCarthy’s Southwest Division is headquartered in Tempe.
The Le Meridien chain was founded by Air France in 1972 and was acquired by Starwood Hotels & Resorts Worldwide Inc. in November.
The Business Journal of Phoenix
