Funding Approved for Sheraton Redevelopment in Entertainment District
The City of Arlington is partnering with Loews Hotels and Company to redevelop 14 acres of land to continue building economic momentum and leverage assets in the Entertainment District. The project includes a new 513-room upper-upscale hotel to replace the existing 311-room Sheraton Arlington, 25,000+ sq. ft. of convention and meeting space and a minimum 735-space parking garage.
Both the Arlington Economic Development Corporation (AEDC) and the City will contribute to the construction of the parking garage as well as other necessary site improvements. The project will create an estimated 250 new permanent jobs and 1,200 estimated construction jobs. Potential future development phases include retail, food & beverage, residential and parking. The proposed project has the potential to create $3.1 billion in economic output over 30 years with $711 million in net benefits for the City, Tarrant County and Arlington Independent School District.