Allen City Council has approved a development agreement for the construction of The Convention Center at Watters Creek, the largest convention and exhibition space in the north Dallas suburbs. The $85 million, four-star facility will be built at Bethany Drive and North Central Expressway. It is projected to open in January 2017.
The hotel and convention center will feature 290 guest rooms, 64,200 square feet of convention space and a 1,000-car parking garage. It will allow Allen to host larger and more significant conferences, with enough space to accommodate groups of 500 people or more. It will also provide the City with its first full-service hotel.
The space is comparable to some of DFW's most significant convention centers, including the Gaylord Texan, Hilton Anatole and Sheraton Dallas Hotel, according to a study by HVS. The HVS study estimates that revenue from the convention center will reach $3.6 million annually by its fourth full year of operation.
The City of Allen, Allen Economic Development Corporation (AEDC) and Allen Community Development Corporation (ACDC) have agreed to jointly contribute $12.3 million toward the capital investment in the project. In addition, the City has pledged $10 million over a 12-year period toward the management operations of the hotel and convention center.
5G Studio Collaborative will complete the architectural design. Plano-based Aimbridge Hospitality has been chosen to manage the hotel, offering a wealth of experience working with cities for management of convention center properties.
Developer TCH Altera anticipates breaking ground by the end of summer.