Monday, August 13, 2007

Business Press item

The Hard Rock Hotel quietly started bulldozing a few apartments on an adjacent property to make way for a $600 million expansion scheduled to begin in the fall.
Plans for a ground-breaking around Aug. 7 were pulled when hotel officials decided to wait for a more photogenic backdrop in the next few months.
Expansion plans include use of eight acres of the adjacent 23-acre Paradise Bay Club weekly apartments.
The remaining 15 acres will be either sold or developed in a partnership utilizing the Hard Rock brand.
An investment group led by Morgans Hotels Group paid $770 million in early 2007 for 39 acres covering the hotel and apartment complex.

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