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Cartage Inc. Building $65 million Homewood Suites
 Condo/Hotel in Fort Lauderdale; Will Be
 Homewood's First Leisure Property

By Tom Stieghorst, South Florida Sun-Sentinel
Knight Ridder/Tribune Business News

Apr. 22, 2004 - Homewood Suites will run a $65 million condo/hotel set to rise later this year in Fort Lauderdale.

The announcement brings a new brand to Broward County's lodging lineup. Currently, the closest Homewood Suites is near Miami International Airport.

Homewood, owned by Hilton Corp., will run the 105 condo-hotel units on the first 10 floors of a 14 story building on the Intracoastal Waterway just north of Oakland Park Boulevard. The top four floors will be residential.

In a statement, Jim Holthouser, senior vice president, brand management, Homewood Suites, said the hotel will give the extended stay chain normally aimed at business travelers a chance to enter a market with extended-stay leisure demand.

The hotel suites begin at $222,000 and range from junior suites, deluxe suites and one-bedroom apartments. The purchaser will be able to use the suite for up to 60 days a year, and will put the room in the hotel's rental pool the rest of the year.

Fort Lauderdale-based Cartage Inc. expects to break ground on the project in the fall. It will also include 12 boat slips that will accommodate vessels up to 50 feet long.

The project is part of a master planned area called The Village, which combines shops, boutiques and cafes.

With the beach only blocks away, relatively few chain hotels locate on the Intracoastal. Cartage Chairman Robert Couf said the luxury residential floors, to be called "Il Lugano" will have a dedicated deep-sea fishing vessel, and the hotel will have its own Water Bus stop.

Homewood, a competitor to Extended Stay America, has 130 properties open and 50 in development.

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(c) 2004, South Florida Sun-Sentinel. Distributed by Knight Ridder/Tribune Business News. HLT, ESA,

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