Wingate Hotel
The Wingate Hotel Project is an undertaking to develop,
construct and operate a 9-story (includes eight floors above ground
and one cellar floor) Wingate by Wyndham Hotel located at the
corner of 29th Street and 4th Ave in Downtown Brooklyn. The
proposed hotel will feature 62 guest rooms, 70 parking spots and
over 10,000 square feet of commercial space. The total tentative
interior square footage of the project will be approximately 50,154
sq ft.
About the Project and Brand
The Hotel will be operated as a Wingate by Wyndham hotel, as part of the “Wyndham Worldwide” hotel flag, pursuant to a franchise agreement with Wingate Inns International, Inc. Wyndham Worldwide was founded in 1981 in Dallas, Texas. The company grew rapidly in the late 1990s and acquired multiple portfolios. Today, Wyndham Worldwide is one of the world’s largest hospitality companies across six continents with over 55 hotel brands, over 7,410 hotels and over 190 timeshare resorts, which collectively make up 13% of the total hotel rooms in the United States. Wyndham Worldwide Corporation is a publicly traded company on the New York Stock Exchange (WYN) with a market capitalization of over $8 billion as of January 2016.
Wyndham Worldwide’s vision is to become a global leader inthe hospitality industry. Wyndham offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through their premier portfolio of preferred brands, talented people, and best-in-class delivery systems. They also offer Wyndham Rewards, the largest guest loyalty program in the lodging industry based on the number of participating hotels. At the heart of Wyndham Worldwide’s culture is a commitment to internal integrity and service.
Wingate Hotel Overview
The Wingate Hotel Project is an undertaking to develop, construct and operate a 9-story (includes eight floors above ground and one cellar floor) Wingate by Wyndham Hotel located at the corner of 29th Street and 4th Ave in Downtown Brooklyn. The proposed hotel will feature 62 guest rooms, 70 parking spots and over 10,000 square feet of commercial space. The total tentative interior square footage of the project will be approximately 50,154 sq ft.
Up to 14 selected EB-5 investors will have an opportunity to invest in this project, which is estimated to create 180.5 permanent new jobs thereby securing 12.8 jobs per EB-5 investor. Up to $7,000,000 EB-5 capital will be invested into the development of the project.
Neighborhood
The Wingate Hotel is located in downtown Brooklyn, New York. Brooklyn is well-served by the Metropolitan Transit Authority (MTA), New York’s public transit system providing convenient options to hotel guests. Visitors can enjoy much of Brooklyn, Manhattan and the other boroughs car-free utilizing the subway, bus lines, commuter rail and simple foot travel. New York’s iconic subway snakes its way through Brooklyn across 18 service lines. Virtually every line in the MTA system passes through Brooklyn at some point, making the subway the ideal choice for getting in and around Brooklyn. In addition to the subway, the MTA bus system helps cover areas that are not extensively reached by the subway. The Long Island Railroad also stops in Downtown Brooklyn, on Flatbush Avenue, Nostrand Avenue and East Brooklyn. Brooklyn is also connected to Manhattan by three famous bridges: the Brooklyn, Manhattan, and Williamsburg bridges; and a vehicular tunnel, the Hugh L. Carey Tunnel.
Brooklyn was long a major shipping port. Today, the Brooklyn Army Terminal in Sunset Park and the Brooklyn Cruise Terminal in Red Hook serve as a focal point for New York’s growing cruise industry. NY Waterway offers commuter services from the western shore of Brooklyn to points in Lower Manhattan, Midtown, and Long Island City, as well as tours and charters. SeaStreak also offers weekday ferry service between the Brooklyn Army Terminal and the Manhattan ferry slips at Pier 11 downtown and East 34th Street in midtown.
