New Hotel Breaks Ground in Seattle

1 Hotel & Residences begins work on 23-story facility in downtown Seattle

SEATTLE , June 11 /PRNewswire/ -- AvStar Seattle LLC, a joint-venturepartnership between Portland-based Avalon Holdings and international realestate development firm Starwood Capital Group Global LLC, has broken groundon 1 Hotel & Residences, its 23-story, mixed-use development at Second Avenueand Pine Street in downtown Seattle . Upon its completion, expected by thesecond quarter of 2009, the building is expected to become the inauguralproperty under the 1 brand, which will set a new standard in environmentallyconscious luxury living globally by combining extraordinary five-star serviceand features with the best of environmentally sustainable architecture andinterior design.

The majority of the Seattle hotel's 110 City Suites and 98 condominiumsare already under reservation for priority presales -- the public sales debutis scheduled for September 2007 . Hotel guests and residents will be treated toan unmatched combination of green construction and operational componentsconsistent with Seattle's environmentally sensitive lifestyle, all amid anextravagant hospitality experience.

"The opportunity to bring this project on line at a time when Seattle istransforming itself into a top-tier American city is extremely gratifying,"says developer Paul Brenneke, president and CEO of Avalon Holdings. "And tooffer thoughtful design while simultaneously supporting Seattle's leadershipin global sustainability -- all in the context of community -- has been worthall the time and effort."

The $200 million project will redefine mixed use for Seattle . At 560,000square feet and 23 stories, 1 Hotel & Residences will house 10 floors ofspectacular condominium residences that range in size from 800 square feet tomore than 6,800 square feet; an eco-friendly, luxury 1 Hotel; a 40,000 squarefoot full-service athletic club and an 8,000 square foot day spa; a restaurantand specialty grocer that promotes organic, local and sustainable ingredientsin tune with the building's environmental conscience.

The project was designed by Sienna Architecture, with the public spaces,restaurant and hotel room interiors designed by Yabu Pushelberg. PCLConstruction Services, Inc. is the contractor, with structural engineeringservices provided by KPFF Consulting Engineers and landscape design by BergerPartners. Design-build services are provided by PSF Mechanical, AuburnMechanical and Nelson Electric. Avalon Holdings provides constructionmanagement.

The 1 Hotel brand is the latest innovation from Starwood Capital Chairmanand CEO Barry Sternlicht. Mr. Sternlicht 's previous trend-setting hospitalitycreations included the W Hotel chain, the first hotel brand to combine aunique, hip and useful urban style with superior service and facilities forbusiness travelers, and the Westin Heavenly Bed, bath and suite of products,which he introduced during his nearly 10 years as founder, Chairman and CEO ofStarwood Hotels.

Consistent with Mr. Sternlicht 's desire to create the world's first five-star, eco-friendly global hotel brand, the National Resources and DefenseCouncil (NRDC) will serve as an environmental advisor on each 1 Hotel project,including Seattle , with the goal of helping set a new standard forenvironmental excellence in the hospitality industry. Green Building Servicesof Portland and Sienna Architecture's in-house green design expert are alsoserving as consultants for the project.

As with all 1 Brand projects, the 1 Hotel & Residences Seattle will be aLEED-certified project. The LEED rating system was created by the U.S. GreenBuilding Council and is the nationally accepted benchmark for the design,construction and operation of high performance green buildings. The propertywill also donate one percent of its revenue to local environmentalorganizations chosen by a steering committee with NRDC representation.

Avalon Holdings

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