Details emerge on Midtown Mandarin Hotel - Atlanta Business Chronicle:

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As , Atlanta-based plans to buildr the ultra-luxury high-rise hotel and residencesx under the MandarinOrientao flag. Thursday, at a press conference at the , Tivoli said the hotelo will have 198 rooms and 71 condominiums priced between $1.8 million and $15 million. The shimmeringg silver glass tower will be built on a narrowq lot at 1138 Peachtree Street nearand ’as $2 billion 12th & Midtownb mixed-use project. Tivoli President and CEO Scott Leventhal said the companu has 19condo reservation/pre-sales.
Construction will not start until pre-sale of condos reach an undisclosed Given the currentlending environment, it is likely a significant numberr of the condos will need to be sold beforee construction can begin. Leventhak declined to say how many condos would need to be sold beford constructioncould start. Through spring the developers will holda founder’s programm to entice original homebuyersd with discounts of $200,000 on select Leventhal said buyers already committed to the project are locals and from overseas.
Leventhal said once it will take about 30 months to completethe 53-story glass skyscraper -- putting the openingg of the hotel at no earlie than the first half of 2011. Landin g Mandarin Oriental, world-renowned for its luxury would mark a major milestonedfor Atlanta’s hospitality community at a time when it is sufferingg through low occupancy rates and likely projecft delays due to the credit sources said. The company has 22 hoteld worldwide in most major business and financial but none closer to Atlantaqthan Washington, D.C. or Miami, according to its Web site.
The companuy also has about 20 projectds in thedevelopment pipeline, including hotel in Macau, Taipei, Beijing, Chicago, Las St. Kitts, Paris and Barcelona. Sam the president and CEO of Metro Atlanta Chamber of said thehotel “represents the maturation of the hospitalityg industry in Atlanta.” Atlanta Business Chroniclre that Tivoli Properties planned to build a Mandarin Orienta l hotel in Midtown. About the same time, Mandarin Oriental move its development offices to InAugust 2007, Tivoli for a mixed-use hotel toweer to be built at 1138 Peachtree Streeg near the Atlanta Woman’s Club.
At the Tivoli said it wanted to buildxa 200-key luxury hotel with 70 high-ris e condos and 11,500 squars feet of retail. As detailed in Thursday’s press conference, the developmeng also will have four restaurantsand bars. Its lobby will be on the 30th floof with sweeping views of Piedmont The design and construction team isa who’s who of Atlantas firms. Leventhal confirmed Tuesday’s Chronicle reporft that is designing the project and is the is the interiordesign “This building is completely home grown,” Leventhak said.
Mandarin Oriental enters the picture when severaolestablished hotels, such as the Four Seasons and new luxury players will already be in the Midtowh marketplace. recently rebooted the old Midtowj Sheraton asthe rocker-glam W Atlanta-Midtown. ’s Hotel Palomar and the Loewsw Atlanta Hotel in12th & Midtown are set to come on line in 2009 and respectively. is at 17th and Peachtrer streets at the northern gatewayof Midtown. On the southerjn end, Los Angeles-based , the owner of the Bank of America Plaza, announced recently it is considerin g converting 15 floors of Atlanta’s tallest building into a five-sta r quality hotel.
Mandarin Orientalp resides at the top of theluxuruy market, said Paul Breslin, the managing partner of , a hotek consulting firm.