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Convention Center Redevelopment Planned for Pasadena

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http://www.yourhoustonnews.com/pasadena/news/pasadena-eyeing-m-convention-center-development/article_c3022cc3-3607-5799-b408-766b541e09df.html

 

The Pasadena Second Century Corporation (PSCC) board members recently met with developers to consider a proposed $225 million development to include a new hotel, restaurants, retail shops and an entertainment venue for the convention-center area.

 

According to agenda documents, PSSC would provide $75.4 million toward the development to include $25 million to build a 135-room convention center hotel, $5.4 million to renovate the convention center, $9 million to add a new ballroom and $19 million for additional parking among other things.

The proposal also includes $150 million in private funding to include $58.4 million for live music venues, five million to support retail development, $12.8 million for pre-opening staffing and marketing and $8.1 million for retail and restaurant operating inventories in addition to monies to cover the cost of design, engineering and development fees.

 

Billy Bob Barnett and Restaurants Unlimited (Sun Capital Partners) are listed as the development operators according to presentation document.

Barnett is best known for his country and western nightclub located in the Fort Worth Stockyards called Billy Bob's Texas or “The World's Largest Honky Tonk.”

The lead developer on the project is listed as City Visions Partners and others to be determined according to the presentation documents. Estrada Hinojosa and Company Inc. and Boyar Miller are listed as the finance and legal team.

Construction is scheduled to begin in January of 2017 once additional financing has been committed on both the public and private side.

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