A new Hilton hotel is in downtown Rochester's future
5th Avenue Rental Partners LLC bought five homes on the corner of Fifth Avenue and Second Street NW to make way for the development of a Hampton Inn and Suites.
ROCHESTER — With one Hilton hotel gone in downtown Rochester, another shall take its place.
The Doubletree Hotel by Hilton on June 9, 2022 , announced it'll be leasing its floors for University of Minnesota student housing, but plans for another Hilton property have been in the works since 2020.
Jeff Brown Jr., of 5th Avenue Rental Partners LLC, said plans for a Hampton Inn and Suites on the corner of Fifth Avenue and Second Street Northwest are currently in place for downtown Rochester's future with the city approving it in 2020 and the company purchasing the site in September 2021.
“With the expansion of the Jacobson building and some of the other growth that we’re seeing at Mayo Clinic, we just really felt strongly about the value in this site, and specifically, putting a hotel in that location,” Brown said. “With a Hilton brand like the Hampton Inn and Suites, we think it’s a really great use for the site to offer some of that expansion a little more new and fresh hotels to choose from. We think that location is dynamite.”
5th Avenue Rental Partners LLC bought five properties on the corner of Fifth Avenue and Second Street NW – 209 and 215 Fifth Ave. NW, and 509, 503 and 507 Second St. NW in Rochester – from Storm Properties, LLC, back in September for $2.75 million.
Brown said the homes on the site are currently being rented out, but construction could begin in 2023 depending on current market conditions and construction pricing.
Even if development is delayed longer, Brown said there's a strong belief in the project and what it could bring to downtown Rochester.
“We're sort of in a patient mindset and we’ll build when it makes sense,” Brown said. “We believe in the project and so it’ll happen. It’s just determining what the correct time is relative to market conditions and construction pricing.”