ROCKVILLE, MD—Locally-based Federal Realty Investment Trust reports that Hilton Worldwide's new lifestyle brand “Canopy” will be part of its mixed-use Pike & Rose development here.
Pike & Rose is one of 11 locations chosen to launch the new Canopy brand, which will also include new properties in London, Miami, San Diego and New York City, and will be one of the first ground-up developed Canopy hotels to open in the United States. Set to open in 2016, the 177-room hotel at Pike & Rose will be built by a partnership between Federal Realty and The Buccini/Pollin Group.
Don Wood, Federal Realty's president and CEO, says of the Canopy's inclusion in the firm's Pike & Rose development, "We are very excited to partner with Hilton and BPG in the development of what will be an iconic brand within the lifestyle hotel segment. We share Hilton's vision of meeting the evolving consumer demand for socially interconnected places that are authentic and culturally engaging. Our mixed-use projects such as Santana Row, Bethesda Row, Assembly Row and soon Pike & Rose create new downtown districts within their respective communities where people desire to live, work, dine, shop or stay overnight."
Pike & Rose will feature street level retail with apartments, offices and hotel space above, amidst open plaza parks, creative common areas, events, street festivals and a farmers market. Located at the intersection of Rockville Pike and Montrose Parkway in the heart of the White Flint District in Montgomery County, Pike & Rose will ultimately encompass 450,000 square feet of retail, 1.1 million square feet of office space, 1,500 residential units and a 300-room boutique hotel at full build out.
Chris Nassetta, Hilton Worldwide's president and CEO, says of the Pike & Rose hotel projct, "For our business and leisure travelers, a sense of place matters. Federal has a proven track record of delivering vibrant, urban mixed-use neighborhoods that our hotel guests value, where they will be just steps away from chef-driven restaurants, new and engaging music venues, health clubs, theaters and other attractive amenities."
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