The 57-story W Hotel New York-Downtown Hotel & Residenceswill rise in the midst of the extensive office redevelopmentcurrently under way and will be located at 123 Washington St., justacross the street from the recently approved FreedomTower. The newest W Hotel will contain 217 hotel rooms and222 residential units. It is slated to open in 2008, with the salesoffice opening later this year.

"W is deeply connected to Manhattan and we're proud to be a partof this important project to revitalize this part of the City,"says Ross Klein, president of Starwood's Luxury Brands Group. "WNew York-Downtown will create a destination inside a destination,adding substance, style and luxury to Manhattan's most anticipatednew development."

Moinian is the owner and developer of the project, which isbeing designed by Gwathmey Siegel & Associates Architects. SHVOMarketing has been pegged to market the residential units. Aspokesperson for SHVO tells GlobeSt.com it is to early in theproject to discuss specifics like unit size or price. Starwood andMoinian did not return requests for comment.