JACKSONVILLE, FL- An Orlando developer has released plans to build a 33-story hotel and residential condominium tower in downtown, about a block from the St. Johns River, according to published reports here.
The $250 million project is being called River Watch at City Centre. It will include the conversion of the 23-story SunTrust Tower into office condominiums.
As proposed, River Watch will include 200 hotel condominiums, 386,750 square feet of office space, 200 residential condominiums, parking and street-level retail.
Cameron Kuhn, CEO/Kuhn Cos., expects construction of the residential tower to begin in December 2006, with opening in the summer of 2008.
Kuhn bought the SunTrust Tower from Capital Partners Inc., a real estate investment firm for $37 million in late September. With that, he acquired the right to purchase an adjacent 1.6-acre parking lot owned by Humana Inc. for $5.5 million.
About a week after buying SunTrust Tower, Kuhn purchased the former Barnett Bank building for $4.95 million. He plans to restore the 1920s-era, 18-story building into office and residential space.

http://www.hotelbusiness.com/links/archive/archive_view.asp?ID=26563&search_variable=condo-hotel

Written by: No Author