The Hyatt Place Santa Cruz officially opens to the public.
ALC EB-5 investment bolsters local tourism industry and community development
Hyatt Place Santa Cruz and American Lending Center (ALC) – a subsidiary of Regional Centers Holding Group – today welcome city and industry leadership to a reception celebrating the property’s recent opening. Supported through EB-5 financing and the first Hyatt in the county, the hotel will increase the city’s tourism revenue and generate significant local economic advancement. Reception attendees include city officials, council members, local hospitality industry representatives and other community leaders.
A peek inside – reservations welcome!
“The City of Santa Cruz is excited to welcome new tourists and industries to the area with the opening of the Hyatt Place,” stated Mayor Cynthia Chase, “and we recognize that American Lending Center financing was critical to the development of this project that will help to strengthen the City’s tax base.”
“This new property is an exciting growth opportunity for the Santa Cruz community,” added Bonnie Lipscomb, Director of the city’s Economic Development Department. “We are so pleased and proud to be building partnerships with organizations like Hyatt and American Lending Center that invest in our city’s economic development.”
Nestled into the California coastline in walking distance of major tourist destinations and local hot spots, the 106-room hotel has created nearly 50 new jobs in the area through ongoing work and current employment, and continued growth is expected. By investing in owner-occupied small enterprises, ALC works to fortify communities with permanent American jobs, acting as a third-party lender for businesses such as Hyatt Place Santa Cruz.
Proud hotel owners Tejal Sood, Many Soma, and family member
ALC representative David Bales with Santa Cruz City Councilmember Richelle Noroyan celebrating the event.
“ALC is excited to continue the successful partnership with the Hyatt Place Santa Cruz,” stated Bruce Thompson, ALC President and former Region IX Administrator for the U.S. Small Business Administration. “ALC is proud to provide financial support for developments like this one, a community property that will stimulate local economic growth for years to come.”