Crescent Real Estate Equities Company (NYSE:CEI) today announced it has signed agreements with The Ritz-Carlton Hotel Company, L.L.C. to develop the first Ritz-Carlton hotel and condominium project in Texas, upon reaching an acceptable level of pre-sales for the residences.
The site for the project is a 3.4-acre Crescent-owned land parcel located adjacent to The Crescent office, retail and hotel complex in Dallas. The proposed 21-story Ritz-Carlton, Dallas, would include approximately 215 hotel rooms and 70 residences. Ground breaking is currently targeted for the first quarter of 2005. Consistent with its other development projects, Crescent will consider bringing in a joint-venture partner.
Logos, product and company names mentioned are the property of their respective owners.
