Chicago, IL. (November 2017) — Together, Dick Portillo, Baum Revision, BlueRoad Ventures and Aparium Hotel Group are transforming the iconic Hayden Flour Mill and Grain Elevator buildings in Tempe, Arizona into an upscale, independently branded hotel and commercial mixed-use complex. The development is located in the heart of Tempe at the southeast corner of Mill Avenue and Rio Salado Parkway.
“Tempe is a unique, creative city that holds a special place in my heart, and it deserves a hotel that truly speaks to its distinct spirit,” states Dick Portillo, Founder of Portillo’s, the iconic chain of restaurants which he sold to Berkshire Partners back in 2014. “I’ve had great success here and this is an exciting project that complements my real estate portfolio.” Portillo still owns a substantial amount of the Portillo’s restaurant properties in addition to a robust mix of retail, multi-family and industrial assets.
The adaptive reuse project will span 150,000 square-feet, celebrate the distinguished architectural character of the existing historic structures, and tastefully expand upon the site with the addition of a modern, mid-rise building. Upon completion, the property will consist of a full-service hotel featuring 165 well-appointed guestrooms and suites, market-leading food and beverage offerings and innovative meeting space, as well as 30,000 square feet of boutique retail and creative office space. The project will also debut an expansive event lawn space for the enjoyment of both transient travelers and the local community alike.
Hayden Flour Mill, a historic building originally constructed in 1918, is located at the base of Tempe Butte in the flourishing Mill Avenue District. Located directly across the street from the new Class A office district along Rio Salado and local favorite Tempe Beach Park, the project will be a welcomed addition as one of few full-service hotel offerings in the market, and an ideal host for the city’s many incoming business and leisure travelers. The site is also proximate to Arizona State University, one of the nation’s largest universities, as well as regional offices for key businesses in the technology, healthcare, and insurance industries. True to Aparium Hotel Group’s signature style and anchored in its “translocal hospitality” concept, the property will be constructed and programmed with local influences to best capture the spirit of Tempe and engage with in the greater Phoenix community.
“With our extensive experience in adaptive reuse projects and deep understanding of the care that goes into the renovation of these unique sites, we were eager to be part of the rebirth of the Hayden Flour Mill site,” says David Baum, Principal and Co-Founder of Baum Revision. “It’s rare to find a project with this much historic significance and we’re looking forward to working alongside our partners Dick Portillo, Aparium Hotel Group, and BlueRoad Ventures.”