Sunday, December 09, 2007
The developers of a controversial high-rise Westin hotel planned for Lower Broadway are shortening the tower by three stories, a move they said would make the project more economically viable but probably reopen it for public debate.
Sage Hospitality Resources and The Barber Group have decided to eliminate the proposed hotel's 48 condos, saying the units would be too costly to build and unlikely to sell as well as company executives had once hoped.
"Nationally, the residential market has cooled, and Nashville really is not immune to that national epidemic," Michael Coolidge, Sage's senior vice president of development said Monday.
The firms instead plan to add 75 rooms to the hotel, bringing the count to about 450. Because hotel rooms are smaller than condos, the changes will let the firms eliminate three floors, lowering the hotel to 16 stories.
Read the Tennessean for the complete story.