NEWS

While the new Hyatt Place hotel on Jefferson Boulevard is about three months from opening, two of its 125 rooms are completed. The beds are made. The furniture is in position. The heat and air conditioning work and the picture of Castle Hill Lighthouse in Newport make it uniquely Rhode Island. "This one is very tight," Jaime Sneva says of the timeline for the $23 million project. Sneva is the superintendent of the job and, during his 20-year career with Ahlborg Construction, has supervised scores of projects, many of them nursing homes and assisted living facilities. The key to a project of this size, he said, are good drawings and good subcontractors. That appeared to be the case on a tour Thursday. About 70 workers were on site. Crews – whether installing floor tiles, wiring electrical panels, fitting wallboard into place or working on the exterior of the six-story building – moved purposely. The Hyatt, which when completed will give Warwick 17 hotels with a total of 2,400 rooms, is the first piece in a larger plan that Michael D'Ambra sees transforming the former eight-acre site of his construction company and asphalt plant into an office complex of about 500,000 square feet. It's a dream he has been working on for years, gaining the zoning approvals and hinged to a vision of a vibrant commercial center built around the airport, train station and nearby proximity to Route 95. What he has planned is a critical element to Warwick City Centre. Under financing agreements announced at the time of the groundbreaking in April, D'Ambra will receive up to $3.5 million under the statewide tax-increment financing program, approximately $1.2 million in Rebuild Rhode Island tax credits and more than $300,000 in a sales tax exemption on construction materials. Additionally, D'Ambra received approvals from the city for a tax stabilization agreement (TSA), which will freeze value of the property for taxation purposes at the pre-construction assessment for five years. HarborOne Bank is providing the financing. D'Ambra said Thursday he's been focused on completing the hotel and offered no news on further development of the site. "My hands have been full getting this done on time," he said. The hotel will be connected to the InterLink with direct access to the Sundlun Terminal at Green Airport via a covered walkway. The hotel will offer five extended stay suites with bedroom, kitchen and living room. It has an indoor swimming pool, exercise room and multi-function rooms. There is also a lounge with a bar off the lobby. D'Ambra projects a May opening for the new Hyatt. That's Sneva's goal. From his perspective it's coming together quickly, and that's a dream that will come true. http://warwickonline.com/stories/may-opening-targeted-for-hyatt-place,13...