44 replies to this topic

[eastsider]

Quote

Last year, officials with the Irving-based Omni company agreed to spend at least $59.3 million to build the hotel, which would include two restaurants, a lobby bar, a pool and an exercise facility. The deal called for the company to receive $29.8 million from the city in tax rebates and other funding, mainly through hotel and sales taxes collected at the hotel over 10 years.

The deal also called for an additional $18.7 million in tax incentives from the county and state.

But now, rising costs for steel, concrete and other building materials have boosted the cost of the project. In addition, Omni officials have indicated that they expect to add about 90 condominiums to the hotel.

The developer says that the $90 million project will now cost 30% more to build due the the rising construction cost and is now asking the city for additional funding. The latest deal calls for a 600 room hotel that would be 15- to 21-stories tall with a 400 space underground parking garage and 48,000 sf of meeting space.

Fort Worth Star-Telegram: City asked to pay more for hotel

Edited by eastsider, 12 January 2006 - 08:55 AM.

[eastsider]

Another article about the rising cost to build the Fort Worth Convention Center Hotel.

Fort Worth Business Press: Rising construction costs stall hotel development

[eastsider]

Omni is asking for an additional $18 million from the city in tax rebates and cash. The city coucil may vote on the new deal on Tuesday

Quote

Omni will put 97 condos atop the hotel tower, which helps the economics significantly. But it wants Fort Worth to subsidize that part of the project, too, until the condos are sold.

Fort Worth Star-Telegram: Is Omni playing us like a chump?

[eastsider]

The Fort Worth City Council approved the additional $18M in funding for the convention center hotel by a 8-1 vote on Tuesday.

Quote

Proponents said the extra costs were justified because the hotel is projected to bring in $1.8 billion in convention business. Also, Omni Hotels of Irving has agreed to spend $15 million of the construction costs with Fort Worth minority firms, the biggest such contract ever awarded. If Omni doesn't meet the goal, it could lose some of its tax breaks.

Fort Worth Star-Telegram: $18 million more OK'd for hotel

[eastsider]

Groundbreaking was held yesterday for the 34-story Omni Fort Worth Hotel which will have 604 hotel rooms and 97 condominiums. The hotel rooms, as well as meeting space and retail will be located on floors 1-17, while the condos will be located on the floors above. The retail tenants include Bob's Steak & Chop House, Starbucks, and a wine bar.

Sales for the condos will begin in Jan-Feb of 2007 by Personette & Associates who also handled sales at the W Dallas Hotel and Residences.

Quote

The condos will range from a 782-square-foot one-bedroom for about $300,000 to a roughly 5,000-square-foot, four- or five-bedroom penthouse for as much as $2 million, said Michael Smith, senior vice president and general counsel for Irving-based TRT Holdings, Omni's parent company.

Fort Worth Star-Telegram: Omni to have upscale condos

[eastsider]

A better look at the new Omni.

[eastsider]

A few new small renderings can be found on the HOK website:

http://www.hok.com/n...96406119f3f.htm

[krazeeboi]

Wow, I like that. Fort Worth could use something like this in their skyline to compliment an already-unique convention center.

[FortWorthology]

Some other renderings:















The hotel's sports bar:


The hotel's Bob's Steakhouse:


Condo resident's lobby:


The hotel's wine bar:


Fairly recent construction shots - they are making good progress now, after a long period of excavating for the four story underground garage:

[RestedTraveler]

Wow!  Thanks for sharing all of the additional renderings, Kevin!  I may just have to check out the Wine Bar and Bob's when it's all complete and open.  

This will be a very nice addition to the skyline and a plus for the convention center.

[krazeeboi]

I'm really diggin' it. When is construction set to be complete? I could actually see this hotel helping Fort Worth to lure some conventions from Dallas.

[FortWorthology]

krazeeboi, on Aug 1 2007, 01:03 PM, said:

I'm really diggin' it. When is construction set to be complete? I could actually see this hotel helping Fort Worth to lure some conventions from Dallas.

The hotel will be opening Fall 2008.  They recently opened a sales center for the condos a block away.  There was an old shoe store that they took over and converted for use as the sales center - it now has a blue glass facade that matches the hotel's glass, and inside is a model two bedroom unit.

[krazeeboi]

Cool; thanks for the info.

[FortWorthology]

Incidentally, the Omni will be the host hotel for the AFC team and other bits of the Super Bowl when it comes the new Cowboys Stadium in Arlington in 2011.  The "Taste of the NFL" event will be held at the Convention Center across the street.

[krazeeboi]

That's good to know. Dallas shouldn't have all the Super Bowl shine.

[RestedTraveler]

krazeeboi, on Aug 1 2007, 02:22 PM, said:

That's good to know. Dallas shouldn't have all the Super Bowl shine.

The new stadium is actually in Arlington...right next to the Ballpark at Arlington/Ameriquest Field/Rangers Ballpark at Arlington/whatever it's called these days.  As best I could tell from driving around, Arlington seems more to me like a part of Fort Worth rather than Dallas...there's a substantial discernable disconnect between Arlington and Dallas that doesn't seem to be there between Fort Worth and Arlington.

I would imagine the NFC team will be staying at maybe the W or something of the like in Dallas?

[FortWorthology]

RestedTraveler, on Aug 1 2007, 02:04 PM, said:

The new stadium is actually in Arlington...right next to the Ballpark at Arlington/Ameriquest Field/Rangers Ballpark at Arlington/whatever it's called these days. As best I could tell from driving around, Arlington seems more to me like a part of Fort Worth rather than Dallas...there's a substantial discernable disconnect between Arlington and Dallas that doesn't seem to be there between Fort Worth and Arlington.

I would imagine the NFC team will be staying at maybe the W or something of the like in Dallas?

Probably so, yes.  I've heard several rumors that the NFL wants to do more stuff in Fort Worth than Dallas.

As for Arlington - it is definitely a Fort Worth suburb, as far as physical location.  It's mostly (if not all) in Tarrant County.  Arlington is, shall we say, not my kind of place - it is overwhelmingly suburban and sprawly.  The small remnant of downtown Arlington from back in the day is rather dead.  It is the largest city in the US with no public transportation.

[krazeeboi]

I did know that the Cowboys' arena was in Arlington, but I just figured that more of the actual activities would be in Dallas.

Even though I have yet to visit the Metroplex, I kinda figured that Arlington was more connected to Fort Worth than Dallas, since under the old MSA designations, Fort Worth and Arlington constituted one MSA and Dallas had its own MSA.

[RestedTraveler]

krazeeboi, on Aug 1 2007, 04:32 PM, said:

I did know that the Cowboys' arena was in Arlington, but I just figured that more of the actual activities would be in Dallas.

Even though I have yet to visit the Metroplex, I kinda figured that Arlington was more connected to Fort Worth than Dallas, since under the old MSA designations, Fort Worth and Arlington constituted one MSA and Dallas had its own MSA.

I somehow hadn't realized it until actually going there, myself.  It is discernable, that's for certain.  I had just always thought of Arlington as being right in between Dallas and Fort Worth.

FortWorthology, on Aug 1 2007, 03:20 PM, said:

As for Arlington - it is definitely a Fort Worth suburb, as far as physical location.  It's mostly (if not all) in Tarrant County.  Arlington is, shall we say, not my kind of place - it is overwhelmingly suburban and sprawly.  The small remnant of downtown Arlington from back in the day is rather dead.  It is the largest city in the US with no public transportation.

Yes - there is much suburban sprawl in and around Arlington, that's for sure.  I counted more Starbucks and Targets than you can shake a stick at.  We had dinner at the Salt Grass near the Parks Mall and drove around the area a bit before heading back to home base in Tyler and it was definitely a suburban mecca.  I'm not much of a sprawl kind of guy myslef, either, but I just cannot yet afford urban living and I'm always leary of urban schools for my younglings.  So for me, I prefer quiet little Saginaw and Keller, although they are beginning to sprawl, too.  I'd prefer them even more if there was LRT going into downtown Fort Worth.

[FortWorthology]

Time for some tasty Floorplan Sauce: