The eight-acre, 800,000-sf Streets of Buckhead project is being developed by locally based Ben Carter Properties. The overall project bordered by Pharr Road to the south, Peachtree Road to the west, East Paces Ferry Road to the north and North Fulton Avenue to the east will include 500,000 sf of retail and restaurant space, four hotels, up to 1,000 residential units and more than 300,000 sf of class A office space. The project broke ground last week and some of the buildings on the existing site have already been demolished, Barry Hotel Partners executive director Butch Ross tells GlobeSt.com.

"Ben Carter is creating a world-class project anchored by some of the best retail in the country," Ross says. "We think 1 Hotel & Residences is the perfect hotel brand for the project."

Barry Hotel Partners, a division of Barry Real Estate Cos., was formed earlier this year. 1 Hotel & Residences is a new "green" hotel concept developed by Starwood chairman and CEO Barry Sternlicht. Like other 1 Hotel & Residences, the project will be LEED-certified. The National Resources Defense Council will serve as an environmental advisor to the project.