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Friday, February 15, 2008

Peabody greenlights expansion

$420 million project to add 750 rooms.

Orlando Business Journal - by Dan=20 Ping Staff Writer

=20

Photo by Jim Carchidi

Peabody General Manager Alan Villaverde says = the=20 expansion includes a new 35-story tower, meeting space and a = parking=20 garage.

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ORLANDO -- The Peabody Orlando's on-again, off-again expansion = is a go=20 -- really.

General Manager Alan Villaverde confirmed this week that the = $420=20 million expansion project will begin as soon as the Feb. 13-16=20 International Builders Show leaves town. (The Orlando/Orange = County=20 Convention & Visitors Bureau expects 100,000 visitors for the = housing=20 industry's largest annual trade show.)

In fact, crews already have started staking out the property to = begin=20 site work for The Peabody's new 750-room, 35-story tower, says = Villaverde.=20

SCA=20 Design Group Inc. of Winter Park, which designed the = existing=20 upscale 891-room hotel at 9801 International Drive, is the = architect for=20 the expansion. The project also will add 157,000 square feet of = flexible=20 meeting space, a parking garage for 2,800 vehicles and a = full-service spa.=20

"Spas are becoming an expected amenity in today's luxury hotel = market,"=20 Villaverde says. "When meeting planners are putting together = packages,=20 that's one of the things they look for."

Other amenities include a grotto-style pool, an English garden, = walking=20 trails and a new restaurant highlighting California cuisine.

Dallas-headquartered Balfour=20 Beatty Construction Co. will oversee the project, says Martin = Belz,=20 president and chairman of Memphis, Tenn.-based Peabody=20 Hotel Group.

News that work would begin soon was greeted enthusiastically by = Tom=20 Ackert, executive director of the Orange County Convention Center. =

"If they're starting to dig, I'll run over with a shovel and = help,"=20 Ackert says. "We've been waiting a long time. The No. 1 thing our = clients=20 tell us we need is more business class rooms within walking = distance of=20 the convention center."

After weathering a number of challenges, Belz says he's excited = construction is imminent.

The hotel first began talking about expanding in 1997. In 2000, = officials announced a two-phase expansion, but financing failed to = materialize after the Sept. 11, 2001, terrorist attacks, which = negatively=20 affected most segments of the U.S. economy.

By 2003, hotel officials predicted the expansion would be = complete by=20 the end of 2007, but rising construction costs brought on by = worldwide=20 demand for concrete and steel further delayed the project, says = Belz.

Whatever the reason for the delays, Ackert is glad the wait is = over.=20 "The Peabody sits right in the heart of the convention center = district --=20 this is great news for the area."

Peabody Orlando expansion

Contractor: Balfour Beatty Construction Co.
Architect: SCA = Design=20 Group Inc. of Winter Park
Size: 35-story, 750-room tower, = 157,000=20 square feet of meeting space, 2,800-space parking = garage
Development=20 cost: $420 million
Contact: (407) 345-4460, http://www.peabodyorlando.com/

Dan Ping can be reached at (407) 241-2895 or via e-mail at=20 dping@bizjournals.com.

Contact the Editor Need Assistance? More = Latest News=20

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