In The News
(ARLINGTON, Texas) Arlington continues to build on its economic momentum and Entertainment District, approving an economic development project that will include a 100,000 square foot entertainment complex near Globe Life Park in Arlington.
The $200 million project is a public-private partnership between the City of Arlington and the Texas Rangers, with the City investing $50 million.
The agreement includes plans to develop a hotel with a minimum of 300 rooms and 35,000 square feet of meeting and conference space.
“This gives our city the ability to host even larger events and conventions,” said Ronnie Price, President & CEO of the Arlington Convention & Visitors Bureau. “This development not only brings great economic growth to our destination, but also provides more activity for our groups before and after conventions.”
It is the intention for the hotel/convention facility to proceed by the end of 2016. In that case, the City would provide the Texas Rangers performance based incentives that include retaining income from the following sources: hotel occupancy tax, property tax, sales tax and mixed beverage tax for 30 years from the City and hotel occupancy tax and sales tax from the state for 10 years.
The entertainment complex will have multiple restaurants, retail space and entertainment venues, along with a signature event space.
“This project is another significant investment in an Arlington economy that already has tremendous momentum,” said Arlington Mayor Jeff Williams.
Construction of the entertainment complex will begin in 2016 and open 12 months later.