Allen's $85M convention center heads to Watters CreekAllen's $85M convention center heads to Watters Creekhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=12602015-04-16T12:02:00Z2015-04-16T09:00:00Z

ALLEN - The City of Allen’s tourism industry will get a bump in January 2017, with 290 new guest rooms, a 64,500-sf convention center and 1,000-car parking garage.

The Allen City Council has approved a partnership with TCH Altera LLC to construct The Convention Center at Watters Creek, a full-service, four-star facility with a development bill of $85 million.

Set to rival North Texas’ other hotel/meeting spaces such as the Gaylord Texan Resort, Hilton Anatole and Sheraton Dallas Hotel, the project will be built on seven acres at Bethany Dr. and N. Central Expy., next to Allen’s Watters Creek apartment and shopping center.

The center is being developed to ease the demand for business and recreation space in the city as Allen undergoes corporate office and retail growth.

That demand has also spurred the development of the Watters Creek Office Park, which will encompass 860,000 sf in five or six buildings constructed next to the convention center.

According to a study by HVS Global Hospitality Services, the convention center will bring in $3.6 million in revenue annually by its fourth full year of operation.

Developer TCH Altera has worked on other prominent hotels, including the Mandarin Oriental in Las Vegas and The Knickerbocker in New York City’s Times Square.

The company said it has already secured financing for the project and will be ready to break ground by the end of the summer.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2015/04/15/allen-city-council-oks-85m-hotel-convention-center.htmlRead more at {Source}

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