Barry Hotel Partners, a division of Barry Real Estate Companies, and Starwood Capital Group will develop a 1 Hotel & Residences as part of The Streets of Buckhead, the massive mixed-use development spearheaded by Atlanta-based Ben Carter Properties. The 1 Hotel, an eco-friendly luxury global hotel brand by Starwood Capital, will open its doors to the public in 2010, offering guests and residences an unmatched combination of environmentally sustainable architecture, luxurious comfort and impeccable service.

“Atlanta has grown up a lot in the last several years and it’s ready for the level of luxury shopping, dining, lodging and living that The Streets of Buckhead will offer,” said Butch Ross, executive director and founding principal of Atlanta-based Barry Hotel Partners. “1 Hotel & Residences Atlanta—Buckhead will bring a level of sophistication that has not been seen in Atlanta’s hotel industry but has long been desired.”

Residents and guests of 1 Hotel & Residences Atlanta—Buckhead will be treated to world-class restaurants, banquet services and spas. In addition, they will have access to a new concierge concept with unparalleled personalization to ensure all that is needed and most of what can be imagined will be provided effortlessly.

“I am extremely pleased to bring our revolutionary hotel concept to a neighborhood that itself has undergone a tremendous renaissance the past several years,” said Barry Sternlicht, Chairman and CEO of Starwood Capital. “Buckhead is a premier luxury location attracting some of the finest retailers and restaurants from around the world, making it a perfect fit for 1 Hotel and its unrivaled ability to combine exquisite living arrangements with an environmental conscience. Together with our very talented partners at Barry Hotel Partners, we look forward to delivering this truly unique living experience to guests and residents of Atlanta alike.”

Consistent with its mission statement, the design-driven 1 Hotel & Residences will demonstrate that green principles can coexist and enhance a luxury hospitality experience and healthy residential lifestyle. The Natural Resources Defense Council (NRDC) has agreed to be an environmental advisor to 1 Hotel & Residences with the initial goal of setting a new standard for environmental excellence and, over time, to transform the entire hotel industry. The hotel will also donate one percent of its revenues to local environmental organizations.

Barry Hotel Partners will develop 1 Hotel & Residences Atlanta—Buckhead on Peachtree Road at the Northeast intersection of Pharr Road. The project will feature 100 condominium residences, a 175-key hotel, a world class spa and a restaurant. Residents of the new condominium homes will have full access to the hotel services. The hotel will break ground in mid-2008 and open in 2010.

As with all 1 branded projects, 1 Hotel & Residences Atlanta—Buckhead will be LEED-certified. The LEED rating system was created by the U.S. Green Building Council and is the nationally accepted benchmark for the design, construction and operation of high performance green buildings.

Barry Hotel Partners, formed earlier this year, is a full-service hotel developer focusing on boutique, four—and—five star hotel brands. In addition to leveraging key properties owned by Barry Real Estate, the new entity will seek other development opportunities. Joining the new division is veteran hotel developer David Edwards, as senior director of design and construction.

“It was a missing link in Barry Real Estate’s business model,” said Chris Schoen, CEO of Barry Real Estate Cos. “As a full-service real estate company, Barry Real Estate can now execute any portion of a mixed-use project, including hotels.”

1 Hotel & Residences, the world’s first “green” global luxury hotel brand, was created by Mr. Sternlicht, who is widely credited with revolutionizing the hotel industry by creating such concepts as the W Hotels brand and the Westin Heavenly Bed brand of products while he was Chairman and CEO of Starwood Hotels and Resorts. The first hotel for the chain is under construction in Seattle. Other sites announced include New York, Washington, D.C., Paris, Scottsdale, Ariz., Mammoth Lakes, Calif., and Ft. Lauderdale, Fla.

The Streets of Buckhead will be an 800,000 square foot, mixed-use community in the heart of the former Buckhead Village area. The high-profile development will transform eight acres—bordered by Pharr Road on the south, Peachtree Road on the West, and East Paces Ferry Road on the north, and North Fulton Avenue on the east—into a charming and walkable streetscape offering upscale boutiques, tony restaurants and sidewalk cafes. Upon completion, The Streets of Buckhead will feature more than 500,000 square feet of retail and restaurant space, most of which is dedicated to internationally celebrated luxury and lifestyle brands; four world-class hotels, up to 1,000 luxury residential units and more than 300,000 square feet of class A office space.
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