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Real Estate Forward

The Westin Irving Convention Center at Las Colinas

Irving, Texas

A 350-key Westin adjacent to the Irving Convention Center in Los Colinas

ESTIMATED VALUE:
Approximately $125 million

LEAD ATTORNEY:

OTHER TEAM MEMBERS:

STATUS:
Completed in 2019

OTHER INFORMATION:
marriott.com

A team of Winstead attorneys worked closely with Preston Hollow, who was the sole investor in The Westin Irving Convention Center at Las Colinas. This project is the centerpiece of a development within the Las Colinas Urban District in Irving, Texas. At nearly $125 million, the new hotel had been years in the making and had its ribbon-cutting ceremony in spring 2019. Located right by the city’s spacious convention center, the hotel has proven to be a significant addition to Irving and has helped spur economic development in the region as a result of this public-private partnership.

The project includes:

  • 350 rooms
  • Event space
  • Fitness center
  • On-site restaurant
  • Outdoor pool

Throughout the course of this P3 project, the Winstead team worked alongside Preston Hollow on a number of different matters. Our attorneys worked to negotiate an economic development agreement with the City of Irving in order to create future financial support generated by incremental tax revenues. In addition, our team helped draft and negotiate a number of agreements, including the development agreement and the design-build agreement, in addition to other documents. This project necessitated working with a number of parties, as the firm negotiated separate development agreements with both the city as well as the developer in order to ultimately reach a mutually desired outcome. The hotel is owned by a private nonprofit borrower, while the City of Irving owns the adjacent parking garage and conference facilities.