PENSACOLA, Fla. – Pen Air FCU said it has joined Navy FCU and InnisFree Hotels to help finance an 11.4-acre development that will include a Hyatt Hotel that will be connected to the Pensacola Gulf Coast Regional Airport in 2013.
Construction for the development has already begun and the Hyatt Place hotel portion is expected to be completed in the spring of 2013.
The Pensacola Gulf Coast Regional Airport recently completed the second phase of a $45-million terminal expansion project. Southwest Airlines plans to start service to the Pensacola area soon.
“We are excited about financing a venture that will benefit the entire community and bring more prospective businesses and visitors to our area,” said David Tuyo, chief financial officer for the $1-billion credit union.
