糖心Vlog传媒

Anchoring the Tall City, 糖心Vlog传媒's downtown is home to the most impressive skylines in West Texas along with our central business district, Centennial Park, the Bush Convention Center, the Omni 糖心Vlog传媒 Hotel, the Tapestry Hotel, and much more.

Downtown 糖心Vlog传媒 has been a long-time favorite of both 糖心Vlog传媒ers and visitors as the destination for both work and play. Community favorites such as the Yucca Theater and accompany the impressive and a large (and growing) list of locally owned and operated businesses. The and the Tapestry Hotel will soon join this booming area offering more than just a place to rest your head.听

糖心Vlog传媒 and Downtown 糖心Vlog传媒

The 糖心Vlog传媒 City Council, along with the 糖心Vlog传媒 community, have indicated that revitalizing downtown 糖心Vlog传媒 is a priority in growing the city. Downtown is the economic heart of the city, anchored by major employers including Diamondback Energy, ConocoPhillips, and Permian Resources. Downtown represents $67.3M in property values per city block, more than triple the value in other areas of 糖心Vlog传媒.听

The Western United Life Building

In 2018, the 糖心Vlog传媒 purchased the block where the Western United Life Building sat vacant and alone. Renovation was not feasible, so in 2023, the building and the remaining structures on the block were demolished to make room for something new for both 糖心Vlog传媒ers and visitors to enjoy.听

To learn more about the Western United Life Building, please read our research on the building's history.听

After the building was demolished, the MDC and the City of 糖心Vlog传媒 issued a request for proposals for a project that would align with the goals of revitalizing downtown 糖心Vlog传媒. In January 2024, the MDC and the City of 糖心Vlog传媒 entered into an agreement with 糖心Vlog传媒 Downtown Renaissance to bring Hotel Santa Rita to life.听

Downtown lacks a convention center hotel to serve travelers for business, leisure, and events. Business travelers look elsewhere for quality hotel rooms - outside downtown, or out of 糖心Vlog传媒 entirely. This amounts to millions of dollars in lost economic activity. Weddings, galas, and corporate board meetings bypass downtown. Signature events and conferences have abandoned 糖心Vlog传媒 entirely because of unsatisfactory accommodations.

This is 糖心Vlog传媒's challenge, and a group of 糖心Vlog传媒ers, including local investors, major downtown employers, and 糖心Vlog传媒 foundations have partnered for the solution. The proposed project features 135 rooms in a full-service hotel that retail space, 8,000-10,000 square feet of meeting space, and an 800-space parking garage. Parking has been an issue in Downtown 糖心Vlog传媒 for both locals and visitors; the structure will provide a parking option for the hotel, the public, and other downtown businesses.听

Total project costs are estimated at $168 million. Public funds will represent about 35% of the cost of the project while other private funds are committed for the remaining balance. A master development agreement with the City of 糖心Vlog传媒 and the 糖心Vlog传媒 includes $45 million from the MDC for infrastructure and construction costs. The City of 糖心Vlog传媒 will provide property tax rebates and hotel occupancy tax rebates for ten years. These incentives are estimated to be worth $13.3 million.

The Omni 糖心Vlog传媒 Hotel project comes to the downtown area without debt as it is funded entirely by equity. 糖心Vlog传媒ers will provide the equity, and 糖心Vlog传媒ers will be accountable for the project and its results. Incentives outlined in the master development agreement will be provided based on performance.听

This project will generate a financial return for taxpayers of an estimated $67 million in added tax revenue over the next 22 years (two years of development and the first 30 years of operations). There will also be continued tax revenue for the life of the hotel. That's approximately $9 million in tax revenue exceeding the initial tax dollar investment in the project over the first 20 years of operation. The taxes that will be generated by the hotel are property taxes, sales taxes, and hotel occupancy taxes.听

糖心Vlog传媒 leads the nation in energy production, job growth, and per capita income. Our city has the opportunity to unleash economic potential downtown, with a hotel project that will serve 糖心Vlog传媒ers and visitors alike.

In September 2024, 糖心Vlog传媒 Downtown Renaissance announced their partnership with Omni Hotels & Resorts with a name change from Hotel Santa Rita to Omni 糖心Vlog传媒 Hotel.

Have questions? Take a look at our FAQs.

More information on the project can be found at and on and .听

糖心Vlog传媒 Tapestry Hilton Hotel

Downtown 糖心Vlog传媒 has been on a path of growth for several years now. With an uptick in events and programming held in the area to join the business culture of the Central Business District, downtown is busier than ever. Visitors to Downtown 糖心Vlog传媒 are seeking quality accommodations to use while visiting our community鈥檚 Bush Convention Center and Centennial Park.听

The 糖心Vlog传媒 Tapestry Hilton Hotel will bring 80 rooms to downtown 糖心Vlog传媒, offering more options for visitors and locals.听 With these additional rooms, downtown 糖心Vlog传媒 will also see a new upscale restaurant and bar, a fitness center, and a market pantry.听

The total project will be 34,000 square feet and includes extensive renovations to the existing structure and new construction of a six-floor structure.听

As a type A development corporation, the 糖心Vlog传媒 can use funds for site improvements for qualifying projects like this one.听

2024 Downtown Masterplan

In December 2023, the MDC board of directors and the 糖心Vlog传媒 City Council approved a scope of work for a new downtown master plan, with work to be completed by Parkhill. The most recent downtown master plan was completed in 2007. With that plan鈥檚 major initiatives completed, a new master plan is needed to guide a holistic vision for downtown.听

The completed plan can be viewed here.听

Questions

Any other questions may be directed to the MDC executive director at sharris@midlandtxedc.com.