The former Lexington Hotel near Downtown Phoenix's Roosevelt Row is being redeveloped into a 104-room hotel to be called the Found:Re. The project is a JV between Habitat Metro's Tim Sprague and Bond Parters, a California hotel group.
The partners are also building a 149-unit new condo development, Portland on the Park, next door to the Found:Re, according to the Phoenix Business Journal.
The developers want to lease ground-floor space in the new hotel to a restaurant. Found:Re might open as soon as next spring. [PBJ]
