The W Hotel and Residences concept differs from Starwood's regular W hotel and resort properties in that, as the name suggests, it includes a residential component. In this case, the White Plains, NY-based hotelier will operate a 25-story building that will be comprised of 225 hotel rooms and 40 luxury residences.

The locally based Applied Development Co. will be the actual developer and owner of the property. The cost of building the W Hoboken was not announced.

"The property will be a key centerpiece of the ongoing revival of Hoboken's Downtown and waterfront district," says Starwood chairman and CEO, Barry S. Sternlicht. "The views of Manhattan's skyline and the waterfront setting make this the perfect site for our next W."

In the view of Hoboken Mayor David Roberts, "this validates our city's reputation as an important destination in the New York metropolitan region. It greatly enhances the value of our southern waterfront."

Award-winning architects Gwathmey Siegel & Associates will design the hotel, which is slated to open in September of 2006. The property will include the brand's signature W Living Room, a bar with Manhattan views. It will also have a "destination" restaurant, a 5,000-sf Bliss Spa, a fitness facility and more than 11,000 sf of meeting space.

And people buying into the residential condominium portion of the W Hoboken will have full use of the property's various amenities, including 24-hour room service, daily maid service and concierge services, according to Starwood officials.

Among Starwood's existing 750 properties around the world are 13 hotels in New Jersey. Notable among them are the Sheraton Meadowlands Hotel and Conference Center in East Rutherford, the Westin at Forrestal Village in Princeton and the Sheraton Atlantic City Convention Center Hotel.