BOSTON—Starwood Hotels & Resorts WorldwideInc. reports it has commenced construction on its dualbranded hotel development—Aloft Boston Waterfrontand Element Boston Waterfront—that will add 510rooms to the market when it opens in 2016.

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The $158-million project will feature the 330-room Aloft BostonWaterfront and 180-room Element Boston Waterfront located on DStreet, directly across the street from the BostonConvention & Exhibition Center. The hotels will beowned and developed by a partnership between majority equitypartner Ares Management-controlled funds andCV Properties on a 5.2 acre-parcel of land leasedfrom the Massachusetts Convention CenterAuthority.

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The two hotels will be operated by Stamford, CT-based hotelierStarwood Hotels & Resorts under the Aloft and Element brandflags. A total of $97 million of financing will be provided byRBS Citizens Financial Group and SantanderBank.

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“We look forward to opening this dual-branded Aloft and Elementhotel complex as part of the on-going redevelopment of the SouthBoston Waterfront, the city's fast-growing business and innovationdistrict,” says Brian McGuinness, senior vicepresident of specialty select brands for Starwood. “Recognized asan industry leader in the eco-space, Element promotes a life inbalance with its emphasis on wellness and sustainability, whileAloft resonates with the next generation of travelers whoappreciate its distinctive urban design, intuitive technologies andlive music scene at the W XYZ Bar.”

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Boston Mayor Martin Walsh adds, “The additionof the Element and Aloft Boston Waterfront hotels on D Street willprovide needed support to the BCEC and the entire South BostonWaterfront for its many business and leisure travellers. I lookforward to celebrating the opening of these two new and modernproperties, and congratulate the MCCA, CV Properties and Starwoodon a successful collaboration.”

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.