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Atlanta Business Chronicle - May 11, 2007 - by Rachel Tobin Ramos Staff writer
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Boutique-hotel mania is continuing in downtown Atlanta as R.C, Patel and Mike Patel of The Diplomat Cos. Get ready to plant a Hotel Indigo within steps of Woodruff Park. …
Boutique hotels have been on the rise in Atlanta, which was formerly known more for giant convention hotels and extended-stay or economy lodges. …
The Patels plan to remake The Carnegie into a 155-room Hotel Indigo, with 10,000 square feet of double-decker retail and restaurant space. It's scheduled to open December 2008.
The Patels will seek Leadership in Energy and Environmental Design (LEED) certification for the project. All the rooms will have hardwood floors and luxury shower stalls. Room rates will list from $150 to $180.
The project, including land acquisition, will cost $30 million.
R.C. Patel said they have applied for an initial $2.5 million tax credit from the Westside Tax Allocation District, which they say is crucial to their project's success.
The Carnegie is an Atlanta landmark, and was designated an Atlanta Historic Building in 1990. …
Atlanta hotelier Paul Breslin, head of Panther Hospitality, is consulting with the Patels (on The Carnegie conversion) ….
"It's an awesome location," Breslin said. The building "has tremendous character, architecture and historic value."
The Patels recently purchased the Budgetel brand of hotels. Because they're busy franchising that brand, Breslin said they retained him to assist with qualifying for tax credits.
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