RALEIGH, N.C. — Many say it is an eyesore in one of the busiest intersections in Raleigh, but the owners of a hotel near Crabtree Valley Mall say they have big plans for the building.

With broken windows, dangling insulation and graffiti, the old Sheraton at Crabtree is far from the four-star hotel that it was supposed to turn into.

More than a year ago, the building's owners said a big project was on the way, but the project came to a screeching halt last winter because of structural issues with the building.

So, the developers decided on a new plan, a new design and a new building 40 stories high.

"Once a new design takes shape, it takes time," said the hotel's owner, Dicky Walia.

Walia and his business partner, Sanjay Mundra, said the change is worth the wait.

They want the building to incorporate the Westin hotel, office space, condominiums and even a spa. They call it "art in motion."

"We wanted to build an iconic building," Walia said. "We wanted to make a statement for Raleigh's next generation."

No other building even comes close in size around Crabtree Valley, but the owners think it is built to fit in.

The tops of trees will blend into a rooftop green space and the building looks different at different angles, Walia said.

"I don't think it will look out of place," he said. "I think it will be a pleasant surprise, a pleasant change."

The owners said they want to file site plans next week and hope to demolish the current building within 90 days. They also said they would like to open the hotel in October 2007.