The first 1 Hotel & Residences announced Aug. 3 at the groundbreaking of The Streets of Buckhead, is a product of Barry Hotel Partners, a division of Barry Real Estate Companies and Starwood Capital Group and will be a two tower structure with a spa in the middle.

One tower will have 175 hotel rooms topped by 48 condos. The other tower will have 50 condos. It is the first announced building for The Streets of Buckhead.

1 Hotel is the brainchild of Barry Sternlicht, the founder of Starwood Hotels and now head of Starwood Capital Group Global LLC. Sternlicht also is the man who came up with the hip W Hotel concept and the more traditional Westin Heavenly Bed.

Atlanta is one of several new locations announced for 1 Hotel, with the first presently under construction in Seattle.

The five-star 1 Hotel will front Peachtree Road at Pharr Road, across from the now-closed Three Dollar Café. Beneath the hotel will be retail space and parking. Construction is expected to begin next summer and continue into 2010.

1 Hotel will be LEED certified, meaning it will meet certain “green” building standards. The building is expected to be about 18 stories tall.

The second hotel announced Aug. 3 by Carter was a 100-room Paces Plaza Hotel and Residences, which also will front on Peachtree Road. The five-star boutique hotel will have 40 condos on top. Paces Plaza will have two restaurants and will also have a spa, as well as meeting rooms.

Two more hotels are planned for the eight-block $1.2 billion development, for which Balfour Beatty Construction is handling both the preliminary demolition work and the new build-out.

–John Schaffner