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Lion's Gate Eyes Q4 Start for Waldorf-Astoria

SARASOTA, FL-The hotel, part of the mixed-use Proscenium development, is expected to open by the end of 2010.

By Natalie Keith | Updated on March 04, 2008

SARASOTA, FL-Locally based Lion’s Gate Development is expecting to begin construction in the fourth quarter on a 225-room Waldorf-Astoria. The luxury hotel will be part of the $1-billion Proscenium mixed-use development Downtown.

The 18-story hotel, which is expected to be completed by the end of 2010, will include 38,000 sf of ballroom, meeting and exhibition space, the Peacock Alley lounge, restaurants, a rooftop pool and a 12,000-sf spa. The project will also include 67 Waldorf-Astoria Residences, which will be sold. Pricing information for the units has not yet been established.

The hotel will be managed by an affiliate of Hilton Hotels Corp. Direct access from the hotel’s ballroom and meeting space floor will be provided via a bridge to the VIP lounge of the 800-seat Nederlander performing arts hall, which is also being developed as part of the Proscenium project.

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