National CORE Secures $103 Million for Hyatt Regency Ontario Project

The financing package, underwritten by JP Morgan, consists of $74.5 million in hotel revenue bonds and $27.3 million in Property Assessed Clean Energy (PACE) bonds. Strong investor interest allowed the team to secure a blended interest rate of slightly over 6%. National CORE, which holds an A+ credit rating from Standard & Poor's, plans to use the capital to modernize the facility while integrating energy-efficiency upgrades throughout the property.

Beyond infrastructure, the project serves as a cornerstone for the nonprofit’s broader economic strategy. National CORE intends to utilize the hotel as a training site for its CORE Academy, creating hospitality career pathways for local residents. The renovation involves a coalition of firms including Manhattan Hospitality Advisors as the operator and M. Arthur Gensler Jr. & Associates as the architect. With construction already underway, the property is scheduled to debut as a Hyatt Regency in early 2027, aiming to bolster regional connectivity near the Ontario International Airport.