ARLINGTON – The city council unanimously approved incentives for a $200 million project that includes 100,000 sf of restaurant, retail and entertainment venues and a convention hotel at the corner of Randol Mill Rd. and Nolan Ryan Expy., near the Texas Rangers' ballpark.
The project will be a public-private partnership between the Rangers and the city.
The hotel will have a minimum of 300 rooms and 35,000 sf of meeting and convention space. Construction is expected to begin by the end of next year.
The city would provide the Texas Rangers performance-based incentives valued at $50 million for the project. Incentives include retaining income from the following sources: hotel occupancy tax, property tax, sales tax and mixed beverage tax for 30 years from the city and hotel occupancy tax and sales tax from the state for ten years.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.