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Convention Center Hotel Back in Dallas' Sights

DALLAS-The city and Chavez Properties ink a $40-million land option as six developers raise hands to submit proposals. The landowner says the stars are now aligned.

By Connie Gore | Updated on February 14, 2008

[IMGCAP(1)]DALLAS-Chavez Properties, with 20 years invested into the wait, and city leaders yesterday signed a $40-million option for an 8.34-acre tract that’s under evaluation for a 1,000-room convention center hotel. The bid was shot down four years ago, but the city’s preparation this time included reaching out early to developers, of which six have put their names into the hat.

“Some we know are going to be offering additional sites, but they will be asked to make proposals for this site too,” A.C. Gonzalez, assistant city manger, tells GlobeSt.com. “This is putting us in a more advantageous situation than in the past because we have what we feel is the prime site under our control.” The site is a Young Street parking lot for more than 1,500 vehicles and right across the street from the one-million-sf convention center and Dallas-Area Rapid Transit’s light-rail station. The city put up $500,000 for the option, which expires Sept. 30.

Putting in dibs to make proposals are FaulknerUSA of Austin, Chicago-based Jones Lang LaSalle, Hines of Houston and Dallas-based developers Woodbine Development Corp., Matthews Southwest and the Beck Group. In 2004, Woodbine earned the city’s approval to be the convention center hotel developer, but the exclusive agreement expired in 2005.

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