Posted Sep 21, 2006, 8:20 PM
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Hotels to Develop Hotel in Downtown Atlanta
Built by Barry Real Estate Cos., W Atlanta Downtown Hotel & Residences to Debut with Heliport as the Newest Addition to Allen Plaza
W Hotels Worldwide announced today plans for a new hotel in downtown Atlanta. Barry Real Estate Cos. and Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), W's parent company, have reached an agreement to build the W Atlanta Downtown Hotel & Residences, a mixed-use tower that will be part of Atlanta's Allen Plaza.
"The W Atlanta Downtown Hotel & Residences is an exciting addition to the quickly expanding downtown landscape," said Chris Schoen, CEO of Barry Real Estate. "The project will feature the highest level of design and architecture - unlike anything else in Atlanta - and will reinvent the hotel experience. It will provide a unique facility for luxury business and leisure travelers, as well as the best choice for residents who wish to own a piece of the W lifestyle."
Starwood's W Atlanta Downtown Hotel & Residences represents the hotel giant's new generation of designs as it aggressively expands its footprint around the globe. "We are pleased to partner with Barry Real Estate Companies to bring W Hotel's brand of exceptional service and world-renowned design to Allen Plaza," said Steven J. Heyer, CEO of Starwood Hotels. "The resurgence taking place downtown is exciting, and we want to be a part of the momentum. Allen Plaza is a superb location, and we feel the area is primed for the first-class hotel and living accommodations we will provide."
Ross Klein, president of W Hotels, said, "The W Atlanta Downtown Hotel & Residences will create a place where comfort meets cool, where innovative design flirts with fashion, food, art and everything in between. W Hotels provides an escape from the mundane, blossoming beyond simply a hotel to become an influential and innovative lifestyle authority. This evolution has made for exciting times for the brand, and we're glad to bring this ground-up project to Atlanta."
Situated at the confluence of the Downtown Connector, Ivan Allen Jr. Blvd., Williams and Spring streets, Allen Plaza has grown into a more than $1 billion mixed-use development, covering several city blocks. Allen Plaza is steps away from the Georgia Aquarium, the new home of the World of Coca-Cola and Centennial Olympic Park. Allen Plaza already has attracted Southern Co., a Fortune 500 company, and Ernst & Young, an international consulting firm. Southern Co. moved into its new headquarters at 30 Allen Plaza in early 2006. Ernst & Young will move into 55 Allen Plaza in spring 2007.
The Allen Plaza development is named for Ivan Allen Jr., the late Atlanta mayor who played a critical role in bringing the city together, promoting its central business district and making Atlanta an area that could attract world-class corporations.
No other development in metro Atlanta has all the elements represented at Allen Plaza: premier class "A" office towers with unparalleled access and visibility, luxury hotels surrounded by high-rise condominiums, first-class, street-level retail in a great walking district and a vision that can be traced to one of the city's great mayors.
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