[kornbread]

I would imagine the same restrictions would apply to any development along the riverwalk portion. Once the riverwalk gets developed in that area the property along it becomes valuable. More than likely there are already plans for development in this area. Something like this usually doesn't just pop-up out of the blue.

Also, I seem to remember at&t getting approval some months back to build a parking garage in that area. Maybe they just needed the extra parking, or maybe there are plans for one of the existing parking lots?

I wouldn't be surprised if the 150 rooms is a hotel already planned near at&t. If they plan to stick around, it would be nice to spruce up their downtown campus with nearby hotel for visitors.

This could certainly take a few years. Look how long it has taken Houston Street to develop (and it's still going).