Plaza Companies and Fayth Hospitality have unveiled plans for a new dual-brand hotel development in the thriving North Phoenix area, with anticipated Hilton flagships Tapestry Collection and Homewood Suites by Hilton.
The project is located on a prime 8.15-acre parcel at the southeast corner of 64th Street and Mayo Boulevard, recently acquired from K. Hovnanian.
The two new hotels will feature a combined 254 guest rooms, designed to serve the growing demand from local, national and international tourism as well as visitors seeking care at the high-quality medical facilities in the area. The hotels will be operated by Fayth Hospitality and are currently in the brand application process with Hilton.
Plaza Companies, known for its extensive experience in commercial real estate development, will also serve as the design and construction manager, overseeing the building process to ensure the project is completed with the highest quality, on time and within budget. The company will also leverage its local embeddedness, strategic partnerships and local connections to ensure the project’s success.
“This project reflects the tremendous momentum in the North Phoenix area and the ongoing success of our strategic partnerships,” said Sharon Harper, Chairman and CEO of Plaza Companies. “Following our impactful work at Park Central, we’re excited to bring a similarly dynamic development to this vital corridor and bioscience hub in Phoenix.”
Located adjacent to major institutions like Mayo Clinic — which recently announced a $2 billion expansion — as well as Brooks Rehabilitation Hospital, which broke ground last month, and the ASU Discovery Oasis Innovation Zone and Health Futures Center, the newly announced hotels will serve as a hub for healthcare-related stays. Other area medical facilities include a planned new hospital by Banner Health that will include a Banner MD Anderson Cancer Center and HonorHealth Scottsdale Thompson Peak Hospital. The site is also just minutes from some of the region’s top events and fast-growing corporate campuses.
The area is also home to key business hubs such as CityNorth and High Street, which houses large companies like Republic Services and Sprouts Farmers Market’s headquarters, and several other major corporations nearby all contributing to a strong corporate presence. Additionally, Desert Ridge and North Scottsdale are commercial and residential areas known for upscale shopping, dining, and leisure options, ensuring a steady flow of both business and leisure travelers.
The Tapestry Collection and Homewood Suites by Hilton brands represent Hilton’s lifestyle and extended stay offerings, aligning with the needs of a diverse and evolving visitor base in the area.
Positioned within the Hilton lifestyle category, Tapestry Collection properties embrace the character of their local surroundings and deliver a balance between boutique charm and the consistency of a major brand, catering to guests who prioritize design, cultural connection, and memorable experiences alongside high-quality amenities.
Homewood Suites by Hilton is an award-winning extended-stay brand offering spacious, residential-style accommodations with fully equipped kitchens, separate living areas, and complimentary breakfast for both short- and long-term guests. The brand’s recent redesign modernizes the hotel for the future by infusing innovations and elevated experiences while preserving the hallmark spaces and amenities guests value most.
“We’re seeing increased demand for quality hospitality offerings in this area, especially ones that blend lifestyle appeal with extended-stay flexibility,” said Greg Fay, Managing Partner of Fayth Hospitality. “These hotels are thoughtfully planned to serve the diverse needs of this unique market, and to serve as a true amenity to the growing Phoenix and Scottsdale markets.”
The new project comes fresh off the launch of the new dual-branded Tru and Home2 Suites by Hilton hotels at Park Central in central Phoenix, a project managed by Fayth Hospitality and co-owned by Plaza Companies and Fayth Hospitality. Plaza Companies was also part of the team that brought the Element Hotel at SkySong to life in Scottsdale, including construction management, working with the Marriott corporate team and community outreach.
Beyond the hotels at Park Central, Fayth Hospitality has additional experience in the Arizona marketplace, including a dual-branded hotel project in downtown Tucson that was completed in 2021.
“The addition of this new hotel near the Mayo Clinic Campus is a significant milestone for our city’s continued growth and innovation. It will not only support the increasing number of visitors and patients coming to this world-class medical destination but also create new jobs and elevate the hospitality experience in North Phoenix. We’re proud to welcome this investment into our community and look forward to the positive impact it will have for years to come,” said City of Phoenix Community and Economic Development Director Christine Mackay.
The project is part of a 44-acre parcel recently purchased by K. Hovnanian in a state land auction at the southeast corner of Mayo Boulevard and 64th Street.
“This hospitality component will be a key feature for the area,” said Michael Fulmer, K Hovnanian Homes’ Phoenix Division President. “We are pleased to work with such a highly regarded Arizona-based company in Plaza Companies as well as a group with the expertise of Fayth Hospitality, to bring these brands to life and to provide an important new amenity to visitors.”
Plaza Companies recently announced an expansion of its presence in the hospitality industry with the formation of a new arm of the business to pursue hotel and lodging projects. The new division will build off Plaza’s success with mixed-use, office, bioscience, medical, and senior living properties.
Construction is expected to begin following final brand approvals and design completion. The architecture for the project will be led by Mayse & Associates and interior design by Flick Mars.
Brokerage services were provided by Michael A. Lieb, Ltd and Plaza Del Rio Management Corp.
“As the original applicant on this Arizona State Land parcel I am excited to bring together this exciting mixed-use project with K Hovnanian for the luxury housing and an upscale hotel with the Plaza Companies and Fayth Hospitality. These high-end uses will be a crucial complement to the adjacent Mayo Campus,” said Michael Lieb.
Plaza Companies’ portfolio features numerous high-profile projects including SkySong, The ASU Scottsdale Innovation Center, Park Central, Splendido at Rancho Vistoso, Vi Senior Living Communities and various medical and bioscience buildings, among others.
Plaza Companies, based in Peoria, Arizona, is an esteemed leader in the developing and managing of medical office and commercial office properties, technology and bioscience facilities, mixed-use properties and senior housing communities. Since its founding in 1982, this full-service, specialized real estate firm has established a proud portfolio stretching across the greater Phoenix area of more than 14 million square feet in properties developed, leased or managed and valued at more than $1 billion. For more information about Plaza Companies, visit ThePlazaCo.com. To inquire about Plaza Companies’ services, call 623.972.1184.
Fayth Hospitality, helmed by Greg Fay and his partner, Randy Churchey, launched in 2018 as a hotel investment company focused on select and compact full-service hotels in popular and emerging markets. Prior to forming Fayth Hospitality with Randy, Greg was the co-lead of the Goldman Sachs select service hospitality platform for 11 years. In addition to the new Home2 Suites/Tru by Hilton hotel in midtown Phoenix, the company opened a dual-brand Hampton Inn/Home2 Suites by Hilton hotel in downtown Tucson in August 2021. For more information, visit www.faythhosp.com.