Ritz-Carlton Hotel

[UptownGrrl]

http://www.charlotte.com/mld/charlotte/new...er/12177997.htm

Sounds like they're building files on anyone taking pictures of Uptown.  Doesn't bode well for UP board members.

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What an exceptionally poorly written article. Summer intern, perhaps?

[DigitalSky]

Even Dee Dee...

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who knew one lady could bring a message board such humor!

[atlrvr]

It would make more sense at this point that Ritz would go where they originally planned which is adjacent to 2 Corp Center on that same lot right at the corner of 5th and College.

$60M seems like it would be mostly the hotel, so I'm not sure if there will be an office component announced, though maybe some luxury condo units would go on top?

[A2]

It would make more sense at this point that Ritz would go where they originally planned which is adjacent to 2 Corp Center on that same lot right at the corner of 5th and College.

$60M seems like it would be mostly the hotel, so I'm not sure if there will be an office component announced, though maybe some luxury condo units would go on top?

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I agree with this assesment atrlvr. I just want to know, How tall do you think we can get this structure? $60M is not tha much cash when it comes to high rises.

A2

[atlrvr]

$60M is about what Trademark is costing......

Hotel would be similar to residential so 25-30 floors, office costs a bit more per floor, so 20-25 floors.....more importantly though is to look at the square footage.....

I would predict 25 stories for a hotel assuming it is at one corner, though probably no more than 15 if it takes up the whole half-block.

[atlrvr]

Why is BofA announcing this?

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Probably they own the land.

[RiversideGator]

Is this the location for the Ritz:

And is that uptown? I am confused.

EDIT: I reread the article and now realize there are two separate projects. Sorry.

[A2]

$60M is about what Trademark is costing......

Hotel would be similar to residential so 25-30 floors, office costs a bit more per floor, so 20-25 floors.....more importantly though is to look at the square footage.....

I would predict 25 stories for a hotel assuming it is at one corner, though probably no more than 15 if it takes up the whole half-block.

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I will take either.

Thanks atrlvr !

A2

[Sabaidee]

Yall think BofA will go with the Neo Gothic look that matches most of BofA buildings?

[atlrvr]

Is this the location for the Ritz:

And is that uptown?  I am confused.

EDIT:  I reread the article and now realize there are two separate projects.  Sorry.

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No, that's a second Ritz project that will be announced, though it will be all condos (though possibly a few corp. apts), but that site will not be a hotel.

That hole is the remnants of site work done for a Saks anchored lifestyle center that fell through.

[ilektronik]

it's 3:37 i'm on the edge of my seat!!!!! lol

[dubone]

What an exceptionally poorly written article. Summer intern, perhaps? 

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nope... it is a 6news story. remarkable difference in the writing of a newspaper article vs. tv news story.

[SmellyCat]

from Bloomberg:

The Ritz-Carlton Hotel Company, L.L.C. and Bank of America for

2005-07-20 15:40 (New York)

The Ritz-Carlton Hotel Company, L.L.C. and Bank of America Announce

Plans for Luxury Hotel at Bank's World Headquarters Site in Downtown

Charlotte, NC

CHEVY CHASE, MD -- (MARKET WIRE) -- 07/20/05 -- The Ritz-Carlton

Hotel Company, L.L.C. and Bank of America today announced an

agreement to develop a 150-room luxury hotel in downtown Charlotte,

NC. Scheduled to open in early 2008, the hotel will be located at

Bank of America's corporate headquarters at a site between North

College and East Trade Streets. The $60 million hotel will be the

first Ritz-Carlton in the state of North Carolina.

"The Ritz-Carlton, Charlotte at Bank of America Corporate Center, is

an exceptional business venture between the two top leaders in the

hospitality and financial industries," said Simon F. Cooper,

Ritz-Carlton president and chief operating officer. "Bank of America

President Ken Lewis could not be a more fitting corporate partner

with his commitment to our shared principles of a total quality

approach to customer service."

"We look forward to serving the lodging and meeting needs of Bank of

America customers, as well as other corporate and group guests

traveling to Charlotte, a commercially thriving city with seven

Fortune 500 companies." Cooper noted that this will be the second

Ritz-Carlton hotel situated at a corporate global headquarters. The

Ritz-Carlton, Wolfsburg, Germany is adjacent to the executive offices

of auto maker Volkswagen. The award-winning hotel, with a one star

Michelin restaurant, serves the lodging and meeting needs of

Volkswagen customers and staff.

"We are excited to be working with one of the finest hotel companies

in the world to bring this investment to Charlotte," said Kenneth D.

Lewis, chairman and CEO of Bank of America. "Having a Ritz-Carlton

hotel in Uptown Charlotte will be great for our company's business

partners who often travel here. The arrival of Ritz-Carlton in our

city also is one more important step in Charlotte's emergence as a

primary destination for American business and tourism."

The Ritz-Carlton will be developed by Colgate Development LLC, with

the design created by the architectural firm of Smallwood, Reynolds,

Stewart, Stewart and Associates. Preliminary plans for the

contemporary-style building include 120 deluxe rooms and 30 suites. A

restaurant, bar and Lobby Lounge will offer several dining options

for guests. A total of 13,600 square feet of meeting space will

include a 9,000 square foot Grand Ballroom; 3,000 square foot Junior

Ballroom; two smaller meeting rooms and a 600 square foot Board Room.

The health club and indoor swimming pool will be on the roof of the

hotel. Other features include a boutique spa and retail shops.

The Ritz-Carlton Hotel Company, L.L.C. of Chevy Chase, MD, (USA)

currently operates 59 hotels in the Americas, Europe, Asia, the Middle

East and Africa. Over 20 projects are under development around the

globe with hotel openings planned for Grand Cayman, Moscow and two in

Beijing over the next year. The Ritz-Carlton is the only service

company to have twice earned the prestigious Malcolm Baldrige

National Quality Award, which recognizes outstanding customer

service. For more information contact Ritz-Carlton toll free

reservations at 1 (800) 241-3333, your travel consultant or visit

www.ritzcarlton.com.

[MDTJ]

Hmm.... 15 stories, 150 rooms, Construction to start spring 06 and be completed in 08.

Didn't get to see to much of the design but of what I saw it looked pretty decent. Another member of the BofA family of towers.

I was hopping for a bit more height out of this block but hopefully the qtr. block next door will be put to a more dense/tall use.

[dubone]

could you tell if it took the whole rest of that block? It seems to me they could easily fit a project like that on just a quarter-block, especially if they leveraged the roof of the parking deck for some amenities.

[Sabaidee]

er 15 stories? well it's better than nothing.

[bork]

er 15 stories? well it's better than nothing.

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[MDTJ]

Thats correct, only took up one side of the crosswalk so theres still hope that in the future we may see some more height out of that block.

Ohh well, can't wait to get a good look at the rendering. They kept going back and forth with the camera so fast that I couldn't concentrate on it long enough to gather the details.

[dubone]

after rereading your post, it sounds like it is definitely just a quarter-block, which is great, as plans for a 2 corp office tower could still happen, we'll have more of that multiple-tower per block that really help skyline density.

hey, think of how excited we were a year ago about a similarly tall courtside project. now it just seems so disappointingly short .

college street between 5th and 7 is already very urban and swarms with pedestrian activity. This project will really bridge the gap between that activity and epicenter and really help to rebuild college street as a pedestrian friendly corridor (i am certain that the ground level of a ritz will be ped friendly).

[Sabaidee]

I'm a lil mixed on the design though. I know it won't have a nice a view, given the elevation, facing east you still see just a little over the roof of the new arena from the top floors. I'm not excited about this project as the Wachovia's, but I'm excited that it's a another fancy hotel though. Why can't they just bring back the 2 Corporate Center, it was suppose to have a 200 room luxury hotel inside it.

[dubone]

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the wavy roof is an interesting twist on an otherwise predicable building.

it will be very nice filler, and certainly contribute much to the area in human, cultural, and economic terms.

[Miesian Corners]

No, that's a second Ritz project that will be announced, though it will be all condos (though possibly a few corp. apts), but that site will not be a hotel.

That hole is the remnants of site work done for a Saks anchored lifestyle center that fell through.

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Wow! DeeDee's hole is lush and green. Who knew?

[dubone]

perhaps this project will be reason for BofA to improve the facade on founder's hall. the dull yellow brick face is not a very nice thing for your important business partners to stare at out of their hotel room windows.

[Sabaidee]

[A2]

Just got back to the desk. The meeting was AWESOME ! Everyone was filled with excitement and anticipation. I can tell you right now that there are NO contengincies and the Ritz is going UP. Granted the intial height qouted is 15 stories, but this only adds to the dynamics of what is happening in that part of town. For one, the Epicenter will be literally right across the street. In addition, the mayor stated he was going to add the Ritz into the sales pitch for the HofF. I think right now, there is more MOMENTUM in this city than in most other cities in the US. I am quite shocked at the rate at which announcements are raining down. In five years out Center city will be hardly recognizable as we add skraper after skraper. This is truly a domino effect, and I do not see it ending in the near future.

Thanks again BofA,

A2