A Princeton hotel is nearing the end of a $19 million renovation and expansion project, representatives for the property said this week.
The project at the Hyatt Regency Princeton includes the addition of 12,000 square feet of meeting space, which will bring its total space to 32,000 square feet, according to a news release. Its operator also is renovating the hotel's 330 guest suites.
The property, which is located at 102 Carnegie Center, is minutes from downtown Princeton and the Princeton Junction train station. It's also in the heart of what experts say is still one of the state's top suburban corporate hubs, as the surrounding region is home to companies like Church & Dwight, Novo Nordisk and Wells Fargo.
The submarket stood out in the first quarter by adding 290,000 square feet of occupied space, according to Colliers International, which has an office in Princeton. That brought vacancy to 15.8 percent, the first time it was under 16 percent in three years.
And in recent months, business leaders around Princeton have said they hope to capture a share of the tourism and economic windfall that will come from next year's Super Bowl at MetLife Stadium.
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