Tuesday, May 27, 2008

Developer offers details on St. Regis hotel plan in Uptown


Landowners asking for a zoning change on a prime Uptown tract are showing details of what they plan to build on the Katy Trail site.

Los Angeles based Foch Investments/Development is seeking city approval to construct a hotel and condo tower at Cedar Springs Road and Carlisle Street that would be 103 feet taller than current zoning will allow.

In return for the taller building, the landowner says it will move the building farther away from the Katy Trail with a landscaped buffer.

The hotel would be operated by St. Regis Hotels.

Foch Investments' zoning request has drawn opposition from critics who want the real estate firm to be held to current zoning requirements.

The City Plan Commission turned down the height increase.

The Dallas City Council will consider the request next week.

The property owner has responded that lowering the height of the building to current standards will require that it take up more of the site and sit much closer to the Katy Trail.

The taller, 24-story building – designed by architects BOKA Powell LLC – would cost about $200 million and contain 150 hotel rooms plus 70 to 80 condos.

Foch Investments says it has operating agreements and financing in place for the project, which would open in late 2010 or early 2011.

"We will break ground at the end of the year or no later than first quarter of next year," Foch principal David Thurman said.

"Our deal is signed and confirmed with St. Regis with our existing zoning."