West Hollywood Says Hello to The "1" Hotel
New updates for the two sore thumbs of the sunset strip. According to WeHoville,
"Starwood Capital has closed on its rumored purchase of the James hotel building from CIM Group for $280 million."
With so much buzz around this project, being the first ground-up hotel project in West Hollywood in over three decades, there have been many whispers around town about this sale. Back in April we heard through the grapevine that Starwood Capital, owners of the W Hotels among many others, were acquiring this project. These rumors were never confirmed by Starwood nor CIM Group, the development group which originally built the project. Paul Arevalo, West Hollywood's city manager, has confirmed the sale this week according to The Real Deal. We shall be sure to keep you updated on the future of this troubled beauty.