News Ticker

FAIRMONT plans luxury highrise hotel for Austin!

Luxury management company Fairmont Hotels & Resorts will be the operator for a $350 million convention hotel planned for downtown, making Austin only the second Texas city to feature the famed brand, the company told the American-Statesman on Tuesday.

Fairmont said it will manage the 50-story, 1,000-room hotel for which Manchester Texas Financial Group plans to break ground early next spring, with a projected opening in 2015. Manchester will build its hotel — to be named the Fairmont Austin — on land that is now a parking lot at East Cesar Chavez and Red River streets just east of the Austin Convention Center.

At 580 feet, the hotel would be the second-tallest building in Austin’s skyline, after the 56-story Austonian.

The Austin Fairmont is expected to create 800 jobs during construction and about 1,000 permanent jobs after it opens, said Doug Manchester, president of Manchester Texas.

In addition, it is projected to generate about $6 million a year in hotel occupancy taxes and $4 million in annual property taxes, most of which will go to a special financing district that will help pay for improvements to nearby Waller Creek.

You can read the entire story from the Austin American Statesmen HERE

About Gregg Klar (396 Articles)
Austin creates an oasis of desirable communities that are touched by the beauty of it's presence. I'm one resident who considers myself fortunate to be a part of the Austin lifestyle. Combining a passion for my work with love for my community, I've earned my place among Austin's leading real estate professionals. I bring to every transaction a personal touch, innovative marketing techniques and in-depth knowledge of today's complex market to ensure your home sale or purchase is a success from start to finish. Put my team of experts to work for you today

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: