Achenbaum, whose company owns two hotels in New York and one in the Caribbean, has partnered with Douglaston Development, SUSD and Hondo Enterprises to develop the £60m hotel within the newly-named 'Tech City' area.
Work is expected to start on the project, which has been financed by Royal Bank of Scotland, next year, with an opening slated for 2015.
The hotel, which as yet remains un-named, will include seven luxury suites, a restaurant, bi-level bar, rooftop swimming pool, 24-hour fitness centre, meeting and event space and a tech incubator.
Achenbaum has recruited architects Dexter Moren Associates and interior design group Design DMU to fit out the hotel with a style that will merge his high standard for style and service with the edgy, urban vibe of the up-and-coming Tech City area in Shoreditch.
“I’m always seeking to expand my portfolio in emerging neighborhoods that have a vibrant social life where businesses can grow and flourish,” said Achenbaum. “Shoreditch aligns brilliantly with our vision for this project and we’re thrilled to break ground during such an exciting time for the neighborhood.”
Achenbaum is keen for the hotel to also become a social hub for local businesses, many of them within the fields of technology and media. It is also expected to create another 150 jobs within the area.
Councillor Guy Nicholson, cabinet member for regeneration said: “Hackney Council’s Regeneration team has been working closely with Achenbaum and his team for two years to help realise their plans to build an exciting urban resort in Shoreditch. This successful collaboration has involved integrating this multimillion-pound investment into our growing economy, creating jobs for local residents as well as contributing to the growth of the creative community in Hackney."
Gordon Innes, chief executive of London & Partners, the Mayor’s official promotional organisation for London added: “Achenbaum has chosen the perfect London location for this project. The hotel opening in the digital hub of Europe will provide further options for London’s increasing visitor market and will make a great addition to the capital’s existing offerings.”