"A dilapidated, nearly-vacant office building at Exchange Place will be transformed into a 13-story, 247-room hotel, complete with an observation deck and restaurant with sweeping views of the New York skyline. If current plans for the site stay on schedule, the hotel should open sometime in fall 2014, according to the hotel’s project manager" (Wright, 2012, para. 1).
http://hudsonreporter.com/view/full_story/19008460/article-New-hotel-planned-for-One-Exchange-Place-Renovation-to-finish-in-2014--will-boost-city-tax-revenues-?instance=lead_story_left_column
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