Lafayette Hotel & Residences will preserve the Lafayette Hotel, a North Park icon for nearly 60 years. This 17-story, mixed-use hotel-condominium project will offer hotel amenities and services to its 260 condominium homeowners. Forty-two of the condominiums will be designated as affordable. Residents will enjoy large outdoor terraces and balconies, panoramic views, underground parking and a convenient location that is close to San Diego's natural jewel, Balboa Park.
The local neighborhood is undergoing significant improvement and is a designated redevelopment area. Homeowners will enjoy the large, resort-style pool originally designed by Olympian Johnny Weissmuller.
The modern design for the condominium tower, to be located on the southern portion of the site, was executed by Martinez+Cutri to complement the existing landmark building using materials at the street level similar to the historic Lafayette Hotel.
Hampstead Lafayette Partners expects to break ground in the fourth quarter of 2005 and completion is scheduled for the fourth quarter of 2007.
The floor plans will include a mix of lofts and one-, two- and three-bedroom units. Townhomes with private garages will ring the outside of the project to ensure a street-friendly interface with the neighborhood. The condominium homes will range from 600 to 1,400 square feet, and will be priced from $350,000 to $700,000, with some penthouses selling for up to approximately $1 million. Residents will enjoy oversized balconies and terraces. Upper floors will feature water and downtown views.
Hampstead purchased the hotel and the 2.6-acre North Park site in March 2004 for $11.5 million. The hotel (formally the Imig Manor) opened in 1946 and quickly became the summer playground for celebrities like Bob Hope, Lana Turner, Ava Gardner and Harry James. Famed swimmer Florence Chadwick trained in the Weissmuller-designed pool.
Residents of the Lafayette will have access to all hotel amenities, including: room and maid service, a workout room, two ballrooms, two restaurants, a business center, boardrooms and the historic pool. The hotel will receive a $5 million to $6 million renovation, ultimately offering 81 boutique-style hotel rooms.