The hotel would occupy floors four through 16 of the building and the residences would begin on the 18th floor. The building also would have underground parking. Late 2009 is the expected completion date. The condos, for which a sales center is up and running near the site, will range from one-bedroom pieds-a-terre to two-level penthouse suites.

Brenneman and Selby first announced the project in late 2004. "We were really only in the planning stages at that time," Selby tells GlobeSt.com. "It took us some time to put together the financing."The developers' equity partner in the project is Mexico City-based Grupo Denim, one of the world's largest manufacturers of denim garments. The construction financing was arranged by Cairn Financial Products Ltd., a subsidiary of London-based Cairn Capital.

The design team includes Carney Architects, HKS Inc., Bilkey Llinas Design and Clausen-Chewning Interior Design. Toronto-based Four Seasons Hotels and Resorts will operate the hotel and manage the residences.

Speaking from their project presentation office adjacent to the development site, Brenneman and Selby tell GlobeSt.com that the combined value of the condominium units and the hotel (once stabilized) is approximately $350 million. They declined to estimate the total development cost, saying the figure was still in flux.