Maryland firm pays $4.2 million for North End site to build Portsmouth hotel
Maryland firm plans five-story, 117-room Hyatt Place
Rendering of planned Hyatt Place Hotel in Portsmouth. (Courtesy)
Baywood Hotels, a hotel management company based in Columbia, Md. that operates hotels around the country, has paid $4.25 million for a site in Portsmouth’s North End, where it plans to build a five-story hotel.
Baywood bought the 165 Deer St. property from Foundry Place Hotel LLC, according to a press release issued Monday by The Boulos Company, which brokered the transaction.
Baywood said it plans to build a new 117-room Hyatt Place hotel at the site along with a garage and café.
The Deer Street property, now an empty lot, was the site of previously proposed multi-use project by Deer Street Associates and later that was slated to include a five-story hotel, but the plan was later scrapped.
