Item 4F
Resolution No. 15-007 and 380 Agreement with SRH Hospitality Southlake Investments, LLC for Westin Hotel
February 3, 2014
Presentation Overview
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Grace Ln
N Carroll Ave
State Hwy 114
Project Overview
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6.83 acres
180,000 sq. ft. minimum, 7 stories
220 room minimum
Full service restaurant, lounge and coffee area on the lobby level
Meeting and conference space totaling 17,000 sf minimum
3 level parking garage; 375 spaces
Construction Value
$45M hotel, $5M structured parking
150 Employees
$32,000 avg. annual salary
16 employees over $50,000
Development Costs – Site-Driven
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ECONOMIC IMPACT – 10 years
Project Summary - Investment and Return of 220-room hotel
Hotel vs. similarly-sized office building
Project investment summary
Investment vs. expected return
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Questions?
Shannon Hamons, 817-748-8037