As the prime general contractor, Beers gets 85% of the $72 million construction contract. Moody gets 15% or $10.8 million. The 525,000-sf hotel is expected to be completed in fourth quarter 2003 at Marietta Street and Andrew Young International Boulevard, as GlobeSt.com reported Sept. 25.
The hotel is being built at a hard construction cost of $137 per sf and $120,000 per room. The joint developers are Omni Hotels of Irving, TX and locally based Turner Broadcasting System.
The new hotel is part of Turner's previously reported $1.2 billion development plan for Midtown. The hotel will be the largest in Omni's national chain.
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