$560M National Harbor Hotel a Go

PRINCE GEORGE’S COUNTY, MD-Plans for Gaylord Entertainment Co.’s National Harbor hotel and retail complex were thrown for a loop in the aftermath of last year’s terror attacks, but the Nashville-based hospitality and entertainment property developer has gotten back on track and is moving forward with the proposed $560-million endeavor. The hotel, retail and convention center facility is to be the centerpiece of the grander $2-billion National Harbor project, conceived by local developer The Peterson Cos.

Gaylord’s portion of the massive National Harbor endeavor centers on an opulent hotel property that will sit on a 40-acre parcel along the banks of the Potomac River. “The luxurious 1,500-room hotel will also have 400,000 sf of state-of-the-art meeting and convention space,” Gaylord Entertainment Co. director of corporate communications Jim Brown tells GlobeSt.com. “We anticipate hiring approximately 1,500 employees and opening in 2006.” Since Gaylord decided to continue with the project, a great deal of progress has been made in getting the requisite local government approvals. “Enabling legislation that is still subject to further agreements with the county was passed October 16,” Brown notes. “These issues include an examination of the tax revenue generated from our project, and ultimately, the bond issuance. And we are continuing to work on architectural and engineering aspects of the project.”