Feb. 1, 2008 - Just two weeks after a hotel developer announced it was pulling out of the Streets of Buckhead, a hotel brand new to Atlanta says it wants to be part of the $1.5 billion mixed-use project.

A Baccarat Hotel and Residences, part of the Starwood Capital Group, will be built on the east side of Peachtree Road between East Paces Ferry Road and Buckhead Avenue, according to Ben Carter Properties, the Streets of Buckhead developer.

The building will have 100 hotel rooms, 42 condominiums and a Baccarat crystal boutique, the developer said. It's scheduled to open in early 2010.

Starwood is the majority shareholder in Baccarat. Atlanta would be the first U.S. mainland location for the new brand, Ben Carter Properties said. Baccarat hotels are under construction in Anguilla in the Caribbean Sea and in Hawaii.

The Streets of Buckhead is an 8-acre redevelopment spanning several blocks in the old Buckhead Village. For years it was a nightlife hotspot until the city shortened bar hours after neighborhood complaints and crime.

Barry Sternlicht, the Starwood chairman and CEO, said in a release Baccarat "is a perfect fit for a development seeking to reward the discerning resident and traveler..."

So far, one other hotel is planned for the Streets of Buckhead: 1 Hotel and Residences, also a Starwood brand.

Barry Hotel Partners had planned to build the 1 Hotel and another hotel but said two weeks ago it was leaving the project. Problems coordinating the retail and hotel development was cited as the reason. Carter said he plans to develop the 1 Hotel and Baccarat.

Streets of Buckhead plans call for an apartment tower with 350 units, restaurants, about 80 retailers and a 300,000-square-foot office tower.

The site is bordered by Pharr Road to the south, Peachtree Road to the west, East Paces Ferry Road to the north and North Fulton Avenue to the east. An additional parcel is on the southwest corner of Peachtree and Pharr roads.

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