The project, when complete, is expected to have two million sfof retail, office, residential and hotel space. The estimated costfor the entire development is about $350 million, says ValerieWestley, development director for Forest City.
The 155-room Aloft is expected to open in July 2009, accordingto a released statement from Starwood Hotels & ResortsWorldwide Inc. A representative from Starwood Hotels did notrespond to requests for interviews.
The hotel will be owned by LTD Management. The development isexpected to have an additional hotel with 150 rooms and aconference center. Forest City is in discussions with several hoteloperators for the second hotel, says Jerry Ferstman, VP ofcommercial development for the company. "That is still kind of upin the air," he says. Starwood is also one of the operators thedeveloper is talking to for the second hotel, Ferstmanconfirmed.
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