Gansevoort founder Achenbaum to develop hotel in London's Shoreditch

George Sell By George Sell
14 December 2013 | Updated 14 December 2013

UK: Michael Achenbaum, the founder of New York-based Gansevoort Hotel Group, has announced plans for a 120-room lifestyle hotel in Shoreditch, east London.

Achenbaum has partnered with Douglaston Development, SUSD and Hondo Enterprises to develop "a full-service urban resort", with work due to start in early 2014. The $98 million project will feature 120 guest rooms, seven suites, a restaurant, bi-level bar, rooftop swimming pool and lounge, 24-hour fitness centre, and more than 6,000 square feet of meeting and event space.
Architects Dexter Moren Associates and interior design group Design DMU will "merge Achenbaum's high standard for style and service with the edgy, urban vibe of the up-and-coming Tech City area in Shoreditch, paying homage to the district with designs inspired by the local street art scene".

Achenbaum said: "I'm always seeking to expand my portfolio in emerging neighbourhoods that have a vibrant social life where businesses can grow and flourish. Shoreditch aligns brilliantly with our vision for this project and we're thrilled to break ground during such an exciting time for the neighbourhood."
Guy Nicholson, cabinet member for regeneration at Hackney Council, said: "Hackney Council's regeneration team has been working closely with Achenbaum and his team for two years to help realise their plans to build an exciting urban resort in Shoreditch. This successful collaboration has involved integrating this multimillion-dollar investment into our growing economy, creating jobs for local residents as well as contributing to the growth of the creative community in Hackney."

Gordon Innes, chief executive of London & Partners, the Mayor of London's official promotional organisation, said: "Achenbaum has chosen the perfect London location for this project. The hotel opening in the digital hub of Europe will provide further options for London's increasing visitor market and will make a great addition to the capital's existing offerings."
Royal Bank of Scotland provided debt financing for the development. The project is expected to open in 2015, creating at least 150 jobs.

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