The first new hotel to rise on Peachtree Road since the Great Recession is being planned next to Phipps Plaza. Retail giant Simon Property Group Inc. is looking to build an Aloft hotel on roughly 1.7 acres that it owns at Peachtree and Wieuca roads in Buckhead, near the Nordstrom department store. The Starwood brand Aloft is a less-pricey version of the hotelier’s W brand. Similar to a Courtyard or a Hilton Garden Inn, this property will be the second Aloft in the Atlanta market, following a downtown location set to open in early 2014. (The Atlanta Business Chronicle).