Feb 11, 201605:33 PMBlog

EB-5-backed Sheraton hotel opens in Des Moines

Feb 11, 2016 - 05:33 PM
EB-5-backed Sheraton hotel opens in Des Moines

Today marks the opening of the Four Points by Sheraton Seattle Airport South in Des Moines — the culmination of a three-year project funded through the EB-5 visa program.

It’s been a long-awaited opening for the community, which waited through delays in construction and the securing of funds to finally see the project’s completion.

“"We think that it'll be an economic driver for downtown," Des Moines Economic Development Director Michael Matthias said to Business Examiner Media last year.

It began in 2013 when Yareton Investments — a subsidiary of a Shanghai-based real estate company and the same firm committed to a similar hotel project in downtown Tacoma — finalized EB-5 funding and gathered the necessary construction permits. It was originally dubbed “The Artemis” before Sheraton was confirmed as the hotelier in 2015.

City staff said last April that Yareton had originally targeted an early fall opening, but the date was pushed back as more permitting was completed.

The hotel is five stories tall and includes 225 guest rooms (including six upscale townhouse style units on the top floor), 157 parking spaces in the garage, an outdoor pool and patio, fitness center and 6,000 square feet of conference space.

            

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