Caliber Companies is planning to build a four-story, 114-room Hyatt Studios hotel on a 2.28-acre parcel at  29^th Avenue & Sonoran Desert Drive in north Phoenix, according to AZBEX. The development is part of a larger agreement between Caliber and Hyatt. Scottsdale-based Caliber announced last year it had entered into a development rights agreement with an affiliate of Hyatt Hotels Corporation under which its Caliber Hospitality Development division would have exclusive rights to develop Hyatt Studios hotels in five target markets, including Arizona. A total of 15 hotels is expected to be built under the agreement.

Hyatt Studios, a relatively new brand under the Hyatt flag, operates as an upscale extended-stay option with studio-apartment-style rooms featuring in-unit kitchens.

The design firm is Stewart + Reindersma Architecture.