Partnership Details $250M Hotel-Condo Project

The project, which will be anchored by a Hilton hotel to be called the Buckhead Hilton at the Stratford, will contain 300 hotel rooms, 192 residential condominiums and a five-story underground parking deck. This will be the Hilton's first hotel in Buckhead and one of the first built in Atlanta in 30 years due to a restriction with the owners of the Downtown Hilton. The Hilton will feature rooms with 10-ft ceilings, a 20-room spa and fitness center, 10,000 sf of meeting space, an indoor/outdoor pool and luxury restaurant. The hotel will be constructed on the first 18 floors with the condominiums on the floors above it. The two components will have separate entrances, but the condominium owners will have access to the hotel amenities, Sandcastle Resorts principal Fred Alias tells GlobeSt.com.

Sandcastle Resorts and Day Capital Partners will develop and own the hotel and Wood Partners will develop the condominiums. "We interviewed 12 different condo developers and we went with Wood because of the quality of their projects," Alias says.

A height variance must be obtained from the city for the project, but he does not anticipate having difficulty obtaining one because there are taller buildings in close proximity to the Stratford development. The partnership anticipates breaking ground on the project in the first quarter of 2007.

"Buckhead is the life of the city," Day Capital Partners co-manager Robert Day tells GlobeSt.com. "It has become urbanized. In the past two to three years, condo development has taken off."

The development will also feature a one-acre Italian-inspired piazza that will feature a 30-ft-high sculpture by an artist commissioned by the developers. The project will be adjacent to an existing Maggiano's Restaurant and a four-story retail and residential project under development by Ackerman & Co.