ATLANTA (Feb. 8, 2011) - It appears Toyoko of Japan is saying "sayonara" to its plans for a 40-story no-frills hotel at Forsyth and Luckie streets downtown.
The 0.31-acre tract at 90 Forsyth St. that would house Atlanta's first Toyoko Inn has been put up for sale. Josh Finley of CB Richard Ellis has the listing, at least according to the sign recently erected on the property that today serves as a AAA parking lot.
Toyoko paid Selig Enterprises a whopping $3.94 million for the sliver of land in 2008, according to Fulton County property records. Of course, it would be interesting if Steve Selig makes an offer on the lot after cashing in once already.
If Toyoko in fact is scrapping plans for Toyoko Atlanta, it would be the latest development in the saga of the planned hotel. Toyoko filed plans for the hotel in 2008 and then went quiet.
But a Wall Street Journal article last summer that said Toyoko still planned to develop a 700-room hotel on the site created buzz in downtown and hospitality circles.
The latest move, the listing of the land, likely spells the end of dreams for a tall, skinny no-frills hotel in downtown Atlanta.