USA, Greenbelt, Maryland. October 05, 2020

Chesapeake Hospitality, a leading third-party hotel management company, announced today it has been selected to manage the 165-room boutique hotel, Hotel Marcel, a redevelopment project currently underway in New Haven, Connecticut. The historic rehabilitation and adaptive reuse project is led by owner, developer and architect Bruce Becker, president of Becker + Becker Associates, Inc. It kicked off in summer 2020 and is expected to be fully complete and open for guests during the summer of 2021. Chesapeake Hospitality CEO Chris Green was on-site with Bruce Becker and other notable partners in this significant project for an event to celebrate the project on Sept. 30.

"This is such a memorable moment for our company and this community as this project moves forward," said Green. "Our incredible team is ready to deliver an unforgettable experience aligned with the big vision for this unique building."

Vacant for 32 years, this is truly a rebirth of this recognized and historic property. The building was designed by Marcel Breuer in 1967 as the Armstrong Rubber Company Building, it is presently known as the Pirelli Building. It was designed as a lofted floating block of perfect concrete modules all hung from expressed concrete-clad trusses. The building is characterized by its sculptural design showcasing the materials and structure over decorative design

The completed hotel will feature 165 rooms, a full-service restaurant and bar, and 7,000 square feet of gallery and meeting space. The Hotel Marcel will be a Tapestry Collection by Hilton, a gathering of original hotels that offer a personalized, unique and distinct hotel experience.

"The positive response and support of this project has been overwhelming. The building is an incredible master work, an icon. We are thrilled to redevelop this landmark property as a model for sustainable hospitality," said Becker. "Having our partners at Chesapeake on board to serve as our management company will also be a large part of our success."

Notably, the Hotel Marcel will boast impressive sustainability elements with the goal to be the first Passive House certified hotel and the first net-zero energy hotel in the United States. It will generate as much power as it uses from solar energy and will be 60% more energy efficient than building codes require. Designed to achieve LEED Platinum certification, the property will utilize solar power generated from rooftop and parking canopy arrays which will provide 100% of electricity for lighting, heating and cooling. It will also feature industry-leading thermal insulation, an energy recovery system, high-efficiency VRF air-source heat pumps and Power over Ethernet high efficiency LED lighting.

Becker + Becker and Chesapeake Hospitality will work closely with New York based Dutch East Design, Inc. which has provided branding and interior design consult for the hotel.

The project has been financed in large part through a senior loan from Liberty Bank and the sale of federal and state historic tax credits to Bank of America. Liberty currently maintains two bank branches in the city and a new Commercial Loan Production Office opening soon at 59 Elm Street in downtown New Haven.

"Liberty Bank is excited to be the lead ‘bank of choice' for the Hotel Marcel project in New Haven as we continue to grow our presence in the area," stated Jeff Hubbard, SVP, Commercial Banking Regional Manager. "Personally, as a veteran CT banker and longtime resident of Greater New Haven, I am also thrilled to be a part of this transformation and revitalization project. The team is preserving the building's original condition, creating jobs, enhancing the Long Wharf district, and bolstering tourism with a first-class boutique hotel, while transforming this beautiful space into a net-zero energy building. On September 30, we were honored to host the partners for a social distanced event as the team officially broke ground and began the long-awaited rebirth of the iconic Pirelli building."

Also in attendance was Claudia Robinson, Senior Vice President of Community Development Banking at Bank of America.

"Bank of America was pleased to provide $11.5 million in combined federal historic tax credit and state historic credit equity to transform the architecturally-significant Pirelli Building into a Tapestry Collection Hilton Hotel," Robinson said. "Located 1.5 miles from downtown and Yale University, the hotel will be the first hotel in New Haven that features conference and event space, providing new economic opportunities to the region."