Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Although plans for a 150-room St. Regis Hotel in the affluent Buckhead district were only formally announced today, more than half of the 50 luxury condominium suites have already been reserved, according to a prepared statement by the development partners, Starwood Hotels & Resorts Worldwide Inc. of White Plains and locally based SR Hotel Development LLLP.

A representative for the project tells GlobeSt.com “St. Regis doesn’t like to discuss development cost.” However, area hospitality industry brokers and marketers familiar with high-end hotel developments elsewhere in the country tell GlobeSt.com the minimum hard construction cost for the 150 rooms will probably be $200,000 per room and about $300,000 per condo. That would place the hard construction cost of the project in the $50-million category, according to sources familiar with comparable projects.

St. Regis also didn’t disclose the retail cost of the residences but the condos will start at about $2.5 million, a representative for the development group tells GlobeSt.com.

The 26-story hotel-condo resort is scheduled to open in the first half of 2008 but a ground-breaking date hasn’t been announced for the development site within the Buckhead Plaza mixed-use development at 100 West Paces Ferry Rd. Starwood will manage the property. Rabun Hogan Ota Rasche is the project architect. Hirsch Bedner is the interior designer. Both consultants are based in Atlanta.

“Both the hotel and the residences are designed specifically for the discriminating consumer who desires all of the luxuries and services the prestigious St. Regis brand offers,” Paul Freeman, managing development partner of SR Hotel Development, says in a prepared statement.

In the same statement, Kerry D. Hatch, president of St. Regis Hotels & Resorts, says, “As we thoughtfully grow our brand and seek out the world’s best addresses, we were immediately attracted to Buckhead.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.