AUSTIN, TX-Downtown’s redevelopment project near the Seaholm Power Plant will be showcasing a 163-room hotel when the six-story inn opens in 2009, according to La Corsha Hospitality Group, an Austin company founded in July by longtime area hotelier Jeff Trigger.

Trigger couldn’t be reached by deadline to learn the estimated development cost and the tentative ground-breaking for the Seaholm Plaza Hotel. However, area construction sources in Austin and other metro areas familiar with comparable projects tell that based on escalating construction costs, the hotel will probably have a hard construction cost of about $200,000 per room or an estimated aggregate cost of $35 million.

The Seaholm Plaza Hotel will be built on about eight acres and will occupy six floors of the 22-story, 62-condo Tower Residences under construction near the power plant site. La Corsha Hospitality Group is directing the hotel’s construction. Seaholm Power LLC, comprised of a group of name local developers, is the developer of record for the project. Trigger is a principal partner in Seaholm Power. John Rosato is the group’s managing partner. Austin-based Centro Partners is developing the condo portion of the project.

The Seaholm Plaza is expected to be the only independent luxury hotel Downtown when it is completed, Trigger has told city officials directing the project. The hotel is also expected to complement planned new office and retail space within the redevelopment, Trigger and Rosato have previously told local city officials.

La Corsha Hospitality Group is also working on a $50-million renovation and restoration assignment at the 171-unit Stoneleigh Hotel in uptown Dallas and the St. Anthony Hotel in Downtown San Antonio, as previously reported. The Stoneleigh and the St. Anthony are owned by New York-based Apollo Real Estate Advisors and Dallas-based Prescott Realty Group.

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