Marriott Marquis developers target groundbreaking in 2014, opening in 2016
HOUSTON – Progress on Houston’s second convention center hotel has reached new milestones with the completion of the development agreement to build a 1,000-room Marriott Marquis next to the George R. Brown Convention Center.
Mayor Annise Parker and Ric Campo, chairman of Houston First Corporation, said the agreement between Houston First and RIDA Development Corporation, the hotel developer, has been executed. In addition, Houston First financing for the project has been completed to include funds to acquire the hotel site, build an adjacent parking garage and make related improvements to the convention district.
The documents also authorize the transfer of land for the hotel’s construction from Houston First to RIDA. Geotechnical work on the site is expected to begin within the next two weeks.
“With this agreement, RIDA can now begin work in earnest,” Mayor Parker said. “It’s an exciting project that will help increase our convention business and generate more activity in downtown Houston.”
Construction is slated to begin in 2014, and the projected completion date for the $335 million hotel is spring 2016, said Ira Mitzner, president of RIDA Development.
With the new agreements in place, Mitzner said Morris Architects and their engineers can now seriously ramp up design efforts. RIDA and Morris are both Houston-based companies.
“It is gratifying to be able to partner with another hometown firm with global capabilities in this vital project,” Mitzner said.
The Marriott Marquis designation is reserved for large convention hotels of iconic design in America’s premier gateway cities. Houston will be the sixth city to fly the Marquis flag after New York, Washington DC, San Francisco, San Diego and Atlanta.
Campo said the go-ahead on this project is in keeping with Houston First’s 2025 master plan for the George R. Brown.
“We need almost 2,000 new hotel rooms to keep pace with competitive cities plus additional parking and retail options to strengthen our convention business,” Campo said. “The construction of this hotel will give us a big boost in attaining that goal.”
The new convention center hotel will add more than 1,800 construction jobs and 800 permanent jobs to Houston’s hospitality industry.
In addition, a new parking garage will add 1,800 spots for hotel patrons and George R. Brown Convention Center visitors. Houston First will soon issue a request for qualifications for a garage developer.
Contacts:
Peter McStravick 713-577-6156
John Harris 713-853-8109
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About Houston First Corporation
Houston First Corporation operates the city’s finest arts and convention facilities to position Houston as a world-class destination. Houston First manages more than 10 city-owned buildings, plazas and parking facilities. Properties include the George R. Brown Convention Center, Hilton Americas-Houston hotel, Miller Outdoor Theatre, Wortham Theater Center and Jones Hall. For more information, please visit www.HoustonFirst.com.
About RIDA Development Corporation
Established in 1972 by David Mitzner, RIDA Development Corporation has achieved a national and international reputation for creating innovative, premium quality and economically successful real estate properties. Headquartered in Houston, RIDA, as the managing partner, is currently developing retail, office, distribution, residential, hotel and mixed-use land developments with a total value in excess of $5 billion in the U.S. and Europe.
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