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Dateline:
Colleyville, Texas - October 23, 2001 4:40 PM
Realty
Capital Corporation announced today that a hotel developer is
planning to construct a luxury, boutique hotel in the Village at
Colleyville. The Monopoly Hotel Group, based in Jupiter, Florida
has contracted to purchase land in, and adjacent to, The Village
for this project.
Click Here
to see the hotel's location within the Village.
The announcement was made at 11:00 AM this morning across the
street from the proposed location. The hotel will have
approximately 65 room and suites ranging in size from 600 square
feet to 1,500 square feet. In addition to the rooms and
suites, the hotel will offer residential villas for sale.
Richard Myers, President Realty Capital made the
announcement. Mr. Myers said that the property, not
currently in the Villages, will be purchased from Tony and Dee
McNosky and would require zoning approval. Myers said that the
hotel group had identified its equity participants but, at
present, does not have a construction loan in place. Click
on Photos to Enlarge...Click on 
below to
hear audio.... |
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Richard Myers, Mayor
Donna Arp
Click
to Hear Mr. Myers Opening Statement
Click
to Hear Myers described planned amenities of hotel
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Richard Myers and
Realty Staff Members display additional Village projects.
Click
to Hear Mayor on value of Village to city
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Reporters Interview
Myers and Mayor
Click
to Hear Myers describe residential aspects of hotel
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Attending the
Announcement (LtoR)
Jamie Thibodeaux, Dee Barker, Darla Dennison, Councilmember
Feldman, Tigue, Ret Stansberger, Chamber
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Click
to Hear Mayor Arp comment on Villages Tax Value
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Click
to Hear Myers discuss size of hotel |
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City Secretary,
Cynthia Singleton, Fire Chief Mike Johnston, Deputy City Mgr.
Diane McWethy, Chief of Police John Young.
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The Hotel to be
built in the Mediterranean Style of the village
Click
to Hear Myers discuss size of hotel |
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Artist rendering
of Goldie's Hamburgers to open by end of year
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Artist rendering
of Main Street, Realty announced last week that construction will
start on two buildings of 40,500 sq. ft and 21,500 sq. ft. |
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hotel should cost around $15 million and be completed in early
2004. Realty Capital announced last week that the value of
the two Main Street buildings is valued at $11 million.
Businesses that are either leasing or purchasing space in these
buildings include Chelsea Lane (upscale children's cloting),
Elixir Spa and Daymaker, The Owl's Nest (toys and games from
around the world), Barrio Antigua (pine and wrought iron
furniture) and RSVP )fine stationery and accessories.
The Villages 27
acres project is located entirely within the city's Tax Increment
District (TIF). The TIF is an agreement between the taxing
authorities to allow the city to capture taxes that would
otherwise go to the school district, for example. The city
may utilize the funds to encourage economic growth. The
Grapevine Mills center is located within that city's TIF
district. The Colleyville TIF was originally negotiated in
1999 by Mayor Richard Newton. TIF was the source of funds
for the boulevard improvement of Hall Johnson to assist traffic and
growth along the Hwy 26 and Hall Johnson intersection.
Richard Myers is a
resident of Colleyville and has developed numerous smaller retail
and office centers primarily in Colleyville and the surrounding
cities. |
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