MCKINNEY, TX—Plans for a proposed luxury resort and conference center in Craig Ranch were outlined during a joint meeting with the city council and the community development corporation this week. The resort is to be located on an 8-acre site at the corner of Collin McKinney Parkway and Weiskopf Avenue within the 2,200-acre Craig Ranch master-planned development.
“The time is right now to get this ongoing and done,” stated L. Scott Tarwater, consultant with Tarwater Hospitality Consulting LLC, in his presentation to the city council and CDC. “There is a large and growing market for four-star resort facilities like this. It will come together as an incredible development unlike any other in the metroplex in an ideal location. Approximately 35 to 40% of the revenue for this project will come from group related and corporate activities.”
Once the city approves the incentive package, the development will get underway this summer with the resort opening by fall 2019, GlobeSt.com learns. Of the $100 million in project costs, the city is being asked to contribute $18 million in economic incentives. The money would come in the form of a $3 million grant, a $5 million loan and $10 million in tax rebates during a 10-year period.
“This project has been in the planning stages for several years and we are convinced this is the right time to bring it to market,” said Dave Johnson, president and CEO of Aimbridge Hospitality, a Dallas-based hotel investment and management firm. “However, the city's participation is the first of a series of steps that have to happen to make this viable. We are simultaneously in serious negotiations with a seasoned developer whom we expect to announce very soon. Having the city's participation is a major component and we hope McKinney's citizens will see this as a great investment.”
The property will feature 285 rooms and suites, and 33,000 square feet of meeting space. Plans call for the resort to be branded under the Marriott Autograph Collection. This brand of Marriott hotels celebrates individuality by curating unique experiences at more than 100 luxury lifestyle hotels in international destinations. Each hotel has been hand selected for its distinction as an iconic landmark, for its remarkable design or for its resort amenities.
“This hotel will have a unique, intimate resort experience that is not currently available in the North Dallas market,” said David Craig, master developer of Craig Ranch. “The location, conference center and level of amenities will fit nicely into Craig Ranch and create a hub of activity for the Town Center.”
Multiple food and beverage outlets will feature both indoor and outdoor seating, a fine dining restaurant, a three-meal restaurant and a coffee/bakery kiosk. Other amenities include a river, adult pool and outdoor fire pits, valet parking, concierge services and wireless high speed Internet service. In addition, guests of the resort will have access to the TPC Golf Course and the Craig Ranch Fitness Center and Spa.
The TPC Craig Ranch private golf course is the centerpiece of the community and a member of the Audubon Cooperative Sanctuary program. The open green spaces and small-town ambiance of Craig Ranch serves as a natural setting for outdoor events, fitness trails, art fairs and exhibits. Soccer and baseball fields, and hike and bike trails are also part of the development.
Located at the crossroads of Frisco, Plano, Allen and McKinney, Craig Ranch is accessible to major employment centers, regional and specialty shopping, fine dining, and sports and entertainment venues throughout Collin County. Craig Ranch is within 30 minutes of DFW International Airport and Dallas Love Field and within seven minutes of McKinney National Airport. Craig Ranch is the home of the McKinney Corporate Center Craig Ranch, a 137-acre office park fronting the Sam Rayburn Toll Road with access to an abundant labor pool.
MCKINNEY, TX—Plans for a proposed luxury resort and conference center in Craig Ranch were outlined during a joint meeting with the city council and the community development corporation this week. The resort is to be located on an 8-acre site at the corner of Collin McKinney Parkway and Weiskopf Avenue within the 2,200-acre Craig Ranch master-planned development.
“The time is right now to get this ongoing and done,” stated L. Scott Tarwater, consultant with Tarwater Hospitality Consulting LLC, in his presentation to the city council and CDC. “There is a large and growing market for four-star resort facilities like this. It will come together as an incredible development unlike any other in the metroplex in an ideal location. Approximately 35 to 40% of the revenue for this project will come from group related and corporate activities.”
Once the city approves the incentive package, the development will get underway this summer with the resort opening by fall 2019, GlobeSt.com learns. Of the $100 million in project costs, the city is being asked to contribute $18 million in economic incentives. The money would come in the form of a $3 million grant, a $5 million loan and $10 million in tax rebates during a 10-year period.
“This project has been in the planning stages for several years and we are convinced this is the right time to bring it to market,” said Dave Johnson, president and CEO of Aimbridge Hospitality, a Dallas-based hotel investment and management firm. “However, the city's participation is the first of a series of steps that have to happen to make this viable. We are simultaneously in serious negotiations with a seasoned developer whom we expect to announce very soon. Having the city's participation is a major component and we hope McKinney's citizens will see this as a great investment.”
The property will feature 285 rooms and suites, and 33,000 square feet of meeting space. Plans call for the resort to be branded under the Marriott Autograph Collection. This brand of Marriott hotels celebrates individuality by curating unique experiences at more than 100 luxury lifestyle hotels in international destinations. Each hotel has been hand selected for its distinction as an iconic landmark, for its remarkable design or for its resort amenities.
“This hotel will have a unique, intimate resort experience that is not currently available in the North Dallas market,” said David Craig, master developer of Craig Ranch. “The location, conference center and level of amenities will fit nicely into Craig Ranch and create a hub of activity for the Town Center.”
Multiple food and beverage outlets will feature both indoor and outdoor seating, a fine dining restaurant, a three-meal restaurant and a coffee/bakery kiosk. Other amenities include a river, adult pool and outdoor fire pits, valet parking, concierge services and wireless high speed Internet service. In addition, guests of the resort will have access to the TPC Golf Course and the Craig Ranch Fitness Center and Spa.
The TPC Craig Ranch private golf course is the centerpiece of the community and a member of the Audubon Cooperative Sanctuary program. The open green spaces and small-town ambiance of Craig Ranch serves as a natural setting for outdoor events, fitness trails, art fairs and exhibits. Soccer and baseball fields, and hike and bike trails are also part of the development.
Located at the crossroads of Frisco, Plano, Allen and McKinney, Craig Ranch is accessible to major employment centers, regional and specialty shopping, fine dining, and sports and entertainment venues throughout Collin County. Craig Ranch is within 30 minutes of DFW International Airport and Dallas Love Field and within seven minutes of McKinney National Airport. Craig Ranch is the home of the McKinney Corporate Center Craig Ranch, a 137-acre office park fronting the Sam Rayburn Toll Road with access to an abundant labor pool.
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