Orlando Business Journal - September 27, 2005
by Bob Mervine
Staff Writer
After years of discussions that never resulted in landing a Westin hotel property along Orlando's main International Drive tourist corridor, Intrawest Corp. announced Tuesday it has affiliated at least 450 of its 1,000 condominium hotel units with the brand, part of Starwood Hotels & Resorts Worldwide Inc.
Intrawest, the Canadian developer behind the Village of Imagine project, a 29.51-acre parcel located just east of the Orange County Convention Center on I-Drive, opened its sales center today. Attending the ceremonies were county commissioners Homer Hartage, Bill Segal and Mildred Fernandez, as well as convention center director Tom Ackert and Orlando-Orange County Convention & Visitors Bureau President Bill Peeper.
The ceremonies included the announcement that Westin, a Starwood (NYSE: HOT) franchise, would operate 250 hotel condominiums in a 12-story high-rise building and another 200 low-rise units that will be part of about 40,000 square feet of restaurant and retail space.
Reservations are being taken on the luxury units, with plans to begin converting to contract on Nov. 15.
The first phase of the resort, with a Florida theme, is expected to be completed by early 2008, according to Connie Wynne, regional vice president for Intrawest Placemaking, a subsidiary of Vancouver, British Columbia-based Intrawest (NYSE: IDR).
Wynne and President Gary Raymond estimate the first phase cost to be $60 million.
Two more phases, another high-rise and a third, as-yet-undesigned condominium hotel are still in development, and Wynne says the second high-rise would sell an Intrawest-operated product while the third phase would also be flagged, but with whom has not yet been determined.
In a previous interview, the convention center's Ackert said, "We view this development as vital, It will improve our customer perception of that area, which is kind of isolated at this point, and provide badly needed access to more hotel rooms, retail and restaurant space."
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