Developers could break ground as early as 2020 on the new hotel, convention center, office and residential projects.
An ambitious hotel and convention center project in Arlington’s evolving entertainment district is getting the go-ahead from city leaders.
The City Council voted unanimously Tuesday to move forward with incentive agreements that will put a $550 million Loews hotel and an attached 150,000-square-foot convention center in motion. The 880-room hotel would be more than twice the size of a Live! by Loews hotel that recently opened across the street.
The plan also includes a $200 million residential and office project called Stadium Lofts that Cordish Companies would build at the Texas Rangers’ former ballpark.
The city will provide an initial, one-time $11 million grant toward the Cordish project. It’ll also issue $49.6 million in bonds to build an attached 1,900-space parking facility that’ll be city-owned, according to council documents. The hotel developer will be eligible for tax rebates for the next 30 years.
The public-private partnership totals $810 million in investment. That builds on an entertainment district now anchored by a $250 million Texas Live! complex and $150 million Live by Loews! hotel. Texas Live! includes a multilevel sports bar, restaurants and a 5,000-seat concert venue.
By Dom DiFurio
8:56 PM on Dec 17, 2019