Starwood Capital Group To Develop Luxury 1 Hotel at Brooklyn Bridge Park
The Brooklyn Bridge Park (BBP) Board of Directors has selected a joint venture between Toll Brothers City Living and Starwood Capital Group to develop a luxury, eco-friendly hotel and condominium community adjacent to Pier 1 in Brooklyn Bridge Park. The site will feature a 200-room hotel, which will carry Starwood Capital's 1 Hotel brand, and 159 condominium residences spread over two buildings marketed under the Toll Brothers City Living brand. READER COMMENTS
The development will total approximately 550,000 square feet, including nearly 16,000 square feet of indoor and outdoor restaurant space, 16,000 square feet of banquet and meeting space, over 2,000 square feet of retail space, a 6,000 square foot spa and fitness center and 300 underground parking spaces.
The 10-story hotel and condominium complex is being designed by Rogers Marvel Architects. The project is projected to achieve LEED Silver Certification.
The development will feature a 1 Hotel, Starwood Capital's four-star, environmentally friendly luxury hotel, which will combine environmentally sustainable architecture and interior design. An interior design firm will be selected shortly.
"We are extremely pleased to be partnering with Toll Brothers to build one of the most exciting new developments in New York City in many years," said Barry Sternlicht, Chairman and CEO of Starwood Capital Group, in an announcement. "With its incredible views of the Manhattan skyline and the iconic Brooklyn Bridge, extraordinary amenities, attractive and affordable location, and close proximity to transportation hubs, Brooklyn Bridge Park is the perfect location to showcase the 1 Hotel and adjoining residences.
The joint venture will enter into a 97-year ground lease of the site, which will require it to make ongoing payments to help fund the park's maintenance and operation as well as build restrooms, maintenance space, and landscaping for the park. Starwood Capital and Toll Brothers expect to break ground on the development by Summer 2013 and open the hotel and residential building in Fall 2015.