Puttin' On the Ritz, Again

A Ritz-Carlton hotel topped with condos may be in the works for Midtown Atlanta.

The company is negotiating to develop a 200-room hotel with million dollar-plus condominiums on the upper floors, smack dab in the middle of Midtown.

The estimated construction cost of the hotel shell alone is $40 million.

The site is Midtown Square at Peachtree and Tenth Streets. The location is the site of a nearly two million-sf, mixed-use project by Dewberry Capital Corp. planned to get under way in about two years.

As is the case with the other Ritz-Carlton/condo projects, the property would be developed by a third party and managed by Ritz-Carlton.

For example, the Washington DC property due to open this October, was developed for $225 million. It has 300 hotel rooms and 162 condominiums with price tags ranging from $500,000 to $5 million.