Lured by congressionally authorized tax credits and other financial incentives after Hurricane Katrina, a procession of developers announced plans to build high-rises.
Adding to the tension for commercial investors: Construction and insurance costs have soared.
At least one big plan — a $400 million proposal by Donald Trump to construct the city‘s tallest building — is going [...]

Leaders from the Industry Real Estate Finance Advisory Council talked money, debating public versus private ownership, capital availability and trends in luxury building at the Americas Lodging Investment Summit in January.
The public versus private discussion kicked off with Kathleen Taylor, president and c.o.o. of Four Seasons Hotels and Resorts, who spoke of the company’s November [...]

Strategic Hotels & Resorts, Inc. announced the appointment of William A. Prezant to Chairman of the company’s Board of Directors. Mr. Prezant, a current Director, also has been appointed Chairman of the company’s Corporate Governance and Nominating Committee.
Mr. Prezant, 60, is a Partner in the law firm of Prezant & Mollath and practices in [...]

Strategic Hotels & Resorts, Inc. announced that it has signed an agreement to acquire at completion new hotel development space comprised of approximately 15 floors of the to-be-built Aqua Building for $82.4 million.
The Company will purchase the space from Lakeshore East LLC, an affiliate of Magellan Development Group LLC. The Company will furnish and install [...]

Strategic Hotels & Resorts Inc. will invest about $100 million for a new, luxury all-suites hotel downtown near Millennium Park, with views of Lake Michigan.
On Wednesday, Strategic agreed to pay $82.4 million for the first 15 floors of the $475 million Aqua residential tower to be built by Magellan Development LLC at its sprawling [...]