ATLANTA— Twelve Hotels and Residences, a new condominium hotel brand, is about to burst upon the lodging scene here in Atlanta with the opening of its first property in February 2006. Created by Novare Group, an Atlanta-based developer of high-rise condos, the new brand will be led by its president, Jim Veil, who was previously a senior executive with the Ritz-Carlton Hotel Co. The new brand will target a younger, more casual professional customer that seeks an upscale residential property with top-notch service, advanced technology and modern design in an urban setting. The hotel portion will also offer these elements. Twelve Hotels and Residences will be comprised of both an all-suites boutique hotel and a moderately priced luxury condo section. The first property in Atlanta will be 26 stories high and contain 380 condo units and 101 hotel rooms. There will also be a 5,000-sf restaurant and bar inside the asset as well as 8,000 sf of event space and 10,000 sf of retail space. The hotel rooms will contain full-size kitchens, living rooms and private balconies. They will come in one and two-bedroom varieties.
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