Fort Worth Considers Up to $7.2 Million in Tax Breaks for Boutique Hotel Near New Arena

Illinois-based hotel company, Heart of America Group, plans to start construction later this year on a 202-room full-service boutique hotel off Camp Bowie Boulevard that will open a few months before Fort Worth's new multipurpose arena in the nearby Will Rogers Memorial Complex.The City Council on Tuesday heard terms of an economic development incentive for the project, called Hotel Renovo, that would rebate the hotel's 7 percent city occupancy tax for 16 years. The incentive would be capped at $7.2 million. Council will vote on the incentive Feb. 21.The company plans a $47 million, 12-story hotel that will also have 11 suites at the northwest corner of Camp Bowie Boulevard and Van Cliburn Way. The hotel, with about 196,000 square feet, will include retail space on the street level as well as a 9,000-square-foot restaurant. It will also have ballroom and meeting space.  Continue reading...