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Fort Worth: Heart of America Markets $41M Hotel Renovo

07/25/2017 12:11:00 pm | Viewed: 350

Texas Construction News from Virtual Builders Exchange

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Proposed Hotel Renovo Fort Worth. Illustrations courtesy of Heart of America Hotels LLC.

 

Posted: 7-25-2017, 2:14 p.m.

by Adolfo Pesquera

Fort Worth (Tarrant County) - Heart of America Hotels LLC recently launched a website to promote the $41 million hotel it plans to build in the museum district.

The website promotes a fairly new hospitality brand, Hotel Renovo. However, Heart of America works with many brands, including Marriott, Holiday Inn and Embassy Suites.

The hotel project originally has an estimated total cost of $47 million, but area museum directors--Eric Lee of the Kimbell Art Museum in particular--objected to the original height, claiming it was aesthetically imposing. In an effort to reach a compromise, HOA Hotels LLC offered to reduce the height from 12 stories to 10, and the number of rooms from 202 to 170.

According to a revised Economic Development Program Agreement prepared in March, the developer will invest $41 million in total construction costs, not including the land acquisition cost, by Dec. 31, 2019. Of that total, a minimum of $31 million would be spend on hard construction costs.

 

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In addition to the guestrooms, the hotel will have 9,000 square feet of meeting space in the form of a ballroom, conference space, and a rooftop banquet space; 2,500 square feet of retail space within or connected to the hotel, with street frontage and direct street access. The entire building originall had a gross square footage of 196,000 SF, but the revised area hasn't been announced.

Features will include a Cordova cream Texas shell limestone exterior, a third-story rooftop pool with full bar, and on the main level there will be a Blue Bar with 34-foot ceiling, and a Johnny's Italian Steakhouse.

HOA Hotels LLC sough a 16-year tax rebate from the city and another condition of the agreement was to assure that construction spending would be apportioned in 15 percent increments to Fort Worth contractors, Fort Worth certified M/WBE contractors, Fort Worth service and supply companies, and Fort Worth M/WBE service and supply companies.

Located at 3300 Camp Bowie Boulevard, the property is at the northwest corner with Van Clirburn Way. It is across Camp Bowie from the Kimbell and within a few blocks of the Modern Art Museum of Fort Worth, the Amon Carter Museum of American Art, and the Fort Worth Museum of Science and History.

Kirk Whalen, vice president and general counsel for Heart of America Group of Moline, Illinois, has been negotiating the agreement with the city and stakeholders.

 

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adolfo@virtualbx.com


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Adolfo Pesquera
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adolfo@virtualbx.com

Adolfo Pesquera is a veteran news journalist. He has worked for Hearst Corp., American Lawyer Media, News Corp and Freedom Communications. His work has been published in newspapers and magazines across the USA. He is a journalism graduate of UT-RGV. He writes, edits and creates digital pages for VBX.