ROCKVILLE, MD Federal Realty Investment Trust has signed two leases with Valencia Group for the development of boutique hotels at both Santana Row in San Jose, CA and on Houston Street in San Antonio, TX. The agreements call for affiliates of Valencia Group to build a four-star boutique hotel at both locations.
At the San Antonio location, Hotel Valencia San Antonio Riverwalk, a 214-room, European-style boutique hotel is already under construction at the corner of Houston and St. Mary s Streets. The hotel represents one part of the revitalization of 10 buildings Federal Realty owns along Houston Street.
At Santana Row, an affiliate of Hotel Valencia Group will build a 213-room boutique hotel, Hotel Valencia Santana Row, which is currently scheduled to open in the fall of 2002. The focal point of the hotel will be a courtyard reminiscent of a grand European palazzo that will contain an outdoor fireplace and fountain. (3/27/01)