(West Palm Beach, Fla.) - Kolter Communities, which created the highly successful One City Plaza and Two City Plaza buildings in downtown West Palm Beach, is proud to announce the commencement of construction on the new Hyatt Place Hotel, located on the corner of Olive Avenue and Lakeview Avenue in the heart of West Palm Beach.

This exciting and welcome addition to downtown West Palm Beach is a five-story 165-suite hotel designed in sophisticated urban style. This combination of the best elements of tradition and contemporary architecture allows the project to be unique but also a welcome addition to its tropical surroundings.

Guests at the hotel will be treated to valet parking, a restaurant, coffee bar, business center, spa areas, fitness center and several meeting rooms. In addition, every room in the hotel is a suite design featuring a sitting area with L shaped sectionals and 42 inch plasma TV's.

Kolter is presently clearing the site and beginning construction on the foundation area of the Hyatt Place Hotel, and anticipates that the $37 million project will be completed within a year.

"Our goal is to open for the holidays in late 2008," said Robert Vail, president of Kolter's Tower Division, who also developed the City Plaza buildings.

"There hasn't been a new downtown hotel in West Palm Beach in 25 years," Vail offered. "As we looked at the growth of this area, Kolter saw the need for a quality hotel to serve both business visitors and tourists. This hotel is within 10 minutes of Palm Beach International Airport and offers a convenient airport shuttle service. Guests will enjoy being in the heart of the business district and within walking distance of the city's new Flagler waterfront park, CityPlace, and the Palm Beach County Convention Center. This is also a convenient location for visitors to the Palm Beach boat show, SunFest and the annual marathon."

"The emphasis is on comfort in this hotel," said Vail, "and the architecture will reflect that commitment to understated elegance and relaxation. For instance, this hotel will include luxurious presidential suites as part of the room selections for families or for those who want a private location for business meetings."

Scott Webb, President of Kolter Commercial who is also delivering the Hyatt Place Hotel announced that the construction contract has been awarded to West Palm Beach's KAST Construction, the company who also built Two City Plaza.

"KAST has gained extensive experience in West Palm Beach. Their long standing commitment to quality and attention to detail are very impressive. It was immediately obvious to the Kolter team that KAST was the right partner for this project. shared Webb.

Kolter Commercial is the privately held commercial real estate affiliate of Kolter Holdings. To date, Kolter Commercial has invested in over $2 billion of properties in North America. Kolter Holdings is an international real estate and development company that has been acquiring, developing and managing real estate throughout North America. In the past 15 years, Kolter has been focusing its efforts in South Florida, creating both residential and commercial projects.

For more information about Kolter Commercial, log onto www.koltercommercial.com