Komar Investments secured a three-month extension in July, and then another six months at a hearing in October to allow time for land entitlement negotiations.
The Redevelopment Agency will consider granting a second six-month extension at its meeting Tuesday.
Despite the delays, city officials remain optimistic that the project will move forward, given the fact that hotels are better positioned to obtain financing over their residential and commercial counterparts, which have difficulty attracting tenants in hard economic times.
An example of the disparity in project feasibility lies just across the street from the planned Hyatt where JoAnn’s Fabrics still sits, despite construction on a 16-story Art Deco-inspired mixed-use residential building getting the final go-ahead from City Hall nearly two years ago.
“Many projects that got approvals really seem to have slowed down to the point of stopping,” said Najarian, who serves as chairman of the Redevelopment Agency. “It’s completely understandable.”
Komar representatives could not be reached for comment Friday, but Emil Tatevosian, deputy development services director for the city, said negotiations with the city for the project were progressing, indicating “that the hotel is very much interested in being in the Glendale market.”
Other forces have also greased the wheels.
A Hyatt official last year cited the Americana at Brand as “the reason why we’re here.”
The 172-room Hyatt Place Hotel concept has been praised for its modern style and inclusion of underground public parking.
