Two teams pitch competing plans to reopen downtown Trenton hotel; Hyatt‑centric and Radisson/Expo proposals presented

Two competing development teams gave the Trenton City Council presentations Wednesday outlining plans to reopen and redevelop the long‑vacant downtown hotel.

Millstone Holdings LLC (presenters led by George Alexander with operator partner TKO Hospitality/Costas Caliguroplos and developer Peter Abrams) proposed reopening the property as a Hyatt Centric full‑service hotel. The Millstone team said it would reduce the hotel’s current 197 rooms to about 150 rooms plus 20–30 extended‑stay suites, emphasize a 6,000‑square‑foot ballroom for weddings and events and operate food, beverage and live entertainment venues on site. The team estimated a renovation budget in the neighborhood of $30 million and said it had development partners and brand approval discussions underway with Hyatt.

"Our goal is to bring here an international brand with a powerful name that will enhance your location in the city center," Costas Caliguroplos of TKO Hospitality said, adding that Hyatt Centric would aim to engage local residents and local hiring programs.

A second team led by Grace Fernandez and presenting as ExpoItalia/Global Expo proposed a mixed program combining 150 hotel rooms, an on‑site permanent trade and conference center (Expo Italia) and food and retail spaces aimed at international trade visitors and local residents. Choice Hotels/Marcus Thomas and a Radisson brand representative said the ExpoItalia team had qualified for Choice’s SOAR developer support program; the presenters said their plan would create exhibition space, a culinary incubator, a public gym and a rooftop amenity and projected phased investment totaling roughly $44 million over five years, with $20 million reportedly committed or available at present from team sources.

"We will be creating a 25,000 square‑foot conference and trade center," Grace Fernandez said, describing anticipated contracts with international manufacturers and trade groups and an associated program of job creation and permanent trade‑show activity.

Both teams addressed financing, construction challenges and timelines. Millstone estimated that a conversion and refurbishment could move quickly once selected — presenters discussed a range of timelines from several months for initial phases up to multi‑year buildout — and flagged major items such as HVAC replacement and furniture/fixtures/equipment procurement as primary drivers of schedule. Peter Abrams (developer partner) described a conceptual construction budget near $30–40 million. The ExpoItalia/Choice team presented a phased schedule with a structural completion target for March 2026 for initial work and described existing engineering, environmental and appraisal work the team said it had completed.

Council members pressed the presenters on proof of funds, specificity of construction budgets and track records. The Millstone team said Hyatt’s brand approval process would include a property improvement plan (PIP) that would produce a detailed construction scope and that lenders typically review such packages before committing financing. The Millstone presenters emphasized hotel operations experience and an existing management network. The ExpoItalia team said they have access to financing arrangements and cited prior investor commitments, a claim the council asked the team to substantiate in follow‑up materials.

Business Administrator Maria Richardson confirmed the council previously set a submission deadline and told the public the city would accept proposals until the stated application deadline (the administration again referenced the council‑mandated application window). Council members said they will vet proposals for financial capacity, development track record and community commitments before selecting a preferred developer or advancing a redevelopment agreement.

Ending — No award or selection was made at the meeting. Council members said they will review bids, request further financial documentation and construction estimates from proposers, and likely invite finalists to return for more detailed briefings. Staff will circulate proposal materials to the council and schedule follow‑up interviews and site due diligence.