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Selene Palm Springs

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Key Updates and Actions for Stakeholders

February 12, 2026
 

1. Introductions

The meeting commenced with introductions of all attendees. Notably, Robert Mallia, Regional Vice President of Architecture & Construction for The Lifestyle Group at Hyatt, was present as well as Lauri Kibby, the local partner in Selene Palm Springs, and Eran Nornberg, the representative of the New York majority partner of Selene Palm Springs, the owner/developer of the Dream Project. Robert’s role brings critical oversight and expertise to the project, ensuring alignment with Hyatt standards and strategic goals. Eran and Lauri and responsible for the daily activities of the development including oversite of all the consultants and contractors for the project.

 

2. Project History and Updates

The Dream Hotel project has undergone several phases:

  • Pre-Covid Construction: Initial groundwork and construction activities began prior to the Covid-19 pandemic, setting the foundation for future progress. Work includes the completion of the foundation work for the hotel structure.
  • The effect of Covid-19 on the project: All work at the site was stopped due to Force-majeure and financing turmoil.
  • Post Covid-19 adjustments: Project and program had to be adjusted to correspond to market change and making the project more attractive for financing.
  • Team Adjustments: Changes in team composition were implemented to address evolving project needs and optimize performance.
  • General Contractor Selection: Interviews were conducted and Suffolk Construction was chosen as the General Contractor to build the project.
  • 50% Construction Documents (“CD”) were completed and cost review: Following the completion of 50% CD the project cost was evaluated. Due to changes in the economy (including new tariff imposed on construction supply), a rigorous Value Engineering (VE) process was undertaken to reduce construction cost.
  • Implementing VE changes into CD and create an Interim Gross Maximum Price of construction (“IGMP”): Once completing the VE process the team moved to incorporating all of the changes into the construction documents with a target of March 30th to have fully incorporated the changes so that an IGMP (Interim Guaranteed Maximum Price) can be established and financing discussions can continue
 

3. Community Concerns and Actions

The project team remains empathetic to community concerns and is committed to ongoing engagement:

  • Monthly Meetings: Regular meetings are held with community representatives to foster open dialogue and address feedback every 2nd Thursday of the month in the Palm Grove room at the Convention Center.
  • Attendance: We asked that community members submit questions at info@selenepalmsprings.com and we will endeavor to answer at the monthly meetings.
  • Email Updates: Timely email communications keep stakeholders informed of progress and actions once construction begins. Major announcements will be posted on the website.
  • Site Maintenance: The team maintains the project site by ensuring the fence is secure, removing trees and soil as necessary, and performing consistent perimeter cleaning to preserve neighborhood appearance.
 

4. Ownership Commitment

Ownership is fully committed to the project’s success:

  • Equity Investment: We have made and continue to make a substantial equity contribution (hundreds of thousands) on a monthly basis to support the project, its consultant and contractors.
  • Design/Engineering Work: Design and engineering work continues, ensures our project is meets compliance to state and local code.
  • City Communication: We have ongoing communication with city officials to ensure they are aware of our progress and that we meet the city’s requirements for the project.
  • Model Room: Ownership is starting the construction of the Model Room and the site investigation which are required in order to start construction.
  • We are scheduled to submit drawings for permit March 31st and are on target for that submittal date
 

3. Next Meeting Details

The next meeting is scheduled for March 12th and every month until start of construction on the 2nd Thursday of every month. We will endeavor to bring a different member of our team at each meeting. with the agenda to include updates on construction progress, community engagement, and any outstanding action items. Details regarding time and location will be shared via email to all stakeholders.

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