HOUSTON--(BUSINESS WIRE)--Dec. 13, 2001--Final development plans have been unveiled for the 300-room Sugar Land Marriott Town Square and adjacent Sugar Land Conference Center, a $54 million public-private project that will bring Fort Bend County its first full-service hotel as the centerpiece of a new town center, Sugar Land Town Square. Construction begins this month for a scheduled opening in summer, 2003.
Stormont Hospitality Group L.L.C. of Atlanta is developing the hotel and conference center as a public-private partnership with Crestline Hotels & Resorts Inc.; Regent Partners; and the City of Sugar Land, Texas.
The nine-story hotel will contain 300 guestrooms and suites. The two-story conference center will adjoin the hotel via an interior, landscaped courtyard and also be accessible by a separate, covered entrance. The conference center's 26,500 square feet of meeting space will include a 15,500-square-foot ballroom which is among Houston's largest, eight meeting rooms, a business center, boardroom, 184-seat restaurant and lounge, gourmet coffee shop and a health facility including an outdoor swimming pool and landscaped deck. The architect is Cooper Carry Inc. of Atlanta and the interior designer is W.D.G. of Dallas.
Regent Partners, an Atlanta-based, $500 million diversified real estate company, will provide a mezzanine loan. Stormont Hospitality Group and Crestline Capital Corp. of Bethesda, Md., a major hotel investor with more than $1 billion in assets, will provide project equity. Construction financing will be provided by Southwest Bank of Texas. An additional $12 million in financing is being provided to Sugarland Properties by JP Morgan Chase to fund the infrastructure development of streets, landscape and amenities within Sugar Land Town Square.
The City of Sugar Land will finance and own the Sugar Land Conference Center, which will be operated as part of the hotel by Crestline.
The hotel will begin taking group business reservations at least one year in advance of the opening. Approximately 250 people will staff the property.
About Sugar Land Town Square
A project of Sugarland Properties Incorporated, Sugar Land Town Square will span 32 acres at the epicenter of the 9,700-acre First Colony development, one of Houston's premier master-planned communities.
Town Square will contain 200,000 square feet of upscale retail topped by 750,000 square feet of Class A office space along with the Sugar Land Marriott and Conference Center and a new City Hall. The focal point of it all is a 1.7-acre plaza with a landmark fountain, shade trees, benches and grassy gathering area.
Sugar Land Town Square represents the leading concept in urban design, combining the most appealing elements of a downtown business district with the classic components of a walkable main street. Sugar Land Town Square will be unique in Texas as a result of its urban-styled integration of office, retail and community elements in a true downtown setting.
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