Oakland Will Soon Have a Hotel Catering Especially to Millennials
It's part of Marriott's millennial-focused Moxy group.
Image courtesy of Lowney Architecture
EJF Capital LLC announced today that it has joined Tidewater Capital and Graves Hospitality to develop Marriott International's new Moxy Hotel in Uptown Oakland.
Ground will be broken on the new project within sixty days, according to the San Francisco Business Times.
Set to open in 2021 and especially tailored for millennial travelers, the Moxy will comprise 173 rooms as well as a street-level lounge and bar. Works by local artists will adorn its walls.
“The Moxy will appeal to a powerful demographic with growing salaries and an appetite for travel," said EJF's senior managing director Asheel Shah.
"We are investing with a team that has an outstanding track record in developing property in urban environments locally and across the country. We are proud to be playing a part in the growing Oakland business community.”
Moxy is Marriott's newest brand — a three-star boutique hotel group developed after extensive research on what millennials want — such as socializing, speedy wi-fi, and fun room designs. Fourteen Moxy hotels are currently open throughout the US, with 39 more in Europe and three in Asia, and dozens more currently in development.
“This is an innovative project representing a two-year grassroots effort with community input to create something very special in Oakland," said Tidewater Capital managing principal Craig Young.
"We’re excited to take an under-utilized site and, with EJF and Graves, deliver a high-density, high-quality sustainable development in one of Oakland’s most vibrant neighborhoods," Young said.