Hotel San Carlos Rejuvenation

The historic Hotel San Carlos in downtown Phoenix is undergoing a massive $80 million renovation, as revealed in city documents. The hotel, built in 1928 and once frequented by Hollywood stars, is currently owned by Rockbridge Capital LLC. They have applied for a $500,000 grant from the city's historic preservation office to assist with the renovation.

The renovation plans include increasing the room count from 128 to 141, modernizing guest rooms and bathrooms, installing new mechanical systems, roofs, and elevators, and introducing new amenities like a destination restaurant, lobby bar, basement speakeasy, historic palm room, tea court, pool, and rooftop facilities. The project also aims to create 5,000 square feet of meeting space.

Rockbridge acquired the property in 2021 for $12M and believes this transformational renovation will position Hotel San Carlos as a leading hotel in Phoenix. The renovation is expected to start in Q4 2023, with completion targeted for Q1 2025.

The project has received unanimous support from the city's historic preservation commission, and the city's transportation, infrastructure, and planning subcommittee is set to vote on the grant on September 20th. This renovation is expected to create new jobs, generate tax revenues, and contribute to the revitalization of downtown Phoenix.