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Marriott Hotels - New Projects
2011-05-16

On April 19, a development group led by Portland-based Homer Williams announced that it is buying a parking lot on the northeast corner of Olympic Boulevard and Francisco Street, and will turn it into a two-hotel complex with 377 rooms. Williams, of the firm Williams/Dame & Associates, along with Seattle investment entity American Life, will pay $120 million to acquire the land from Anschutz Entertainment Group and build a 22-story tower that will hold 180 Courtyard by Marriott rooms and a separate 197-room Residence Inn. The 300,000-square-foot project, which will rise across the street from the 1,001-room Ritz-Carlton/J.W. Marriott hotel, is slated to break ground in March 2012 and open two years later. The project is fully financed by American Life and no loans are needed, said Williams



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