SmellyHoustonian

It's been passed by City Council. The hotel construction and costs have been approved. Looks like we'll have a shiny new building with a Texas shaped lazy river!

Here is a discussion of what it will take from the city in terms of funds/development incentives that it's going to take to get the Hotel built. Looks to be a lot, totalling $138 million. Houston First will give $58.7 million in cash, $53 million in rebates on city property, hotel and alcohol sales over 20 years, $26 million in rebates on state taxes over 10 years and it will be owned by RIDA who will keep excess revenue (unlike the Hilton owned by the city) Houston First will also build a $31 million parking garage, which will be leased by the hotel for $62 million over 50 years. For the curious, it will be a Marriott Marquis hotel. I'm not sure about the project. It comes at a steep price, without a lot of the benefit that came with the investment in the Hilton. I'd rather the project take on the steps used to build the Hilton, it's a better deal for the taxpayers. http://www.houstonchronicle.com/news/houston-texas/houston/article/City-to-offer-hotel-developer-138M-in-incentives-4109932.php

I saw a rendering today from the presentation to City Council. The pool deck area will have a Texas shaped Lazy River on it. Pretty cool!