POSTED: Friday, October 4, 2013 - 1:37pm
UPDATED: Monday, October 7, 2013 - 9:09am
El Paso, TX (KTSM) — El Paso's downtown skyline may be getting a little more vibrant. Jim Scherr, developer of the Doubletree El Paso, has announced a proposed agreement with Marriott to develop and build a brand new 15-story skyscraper in downtown El Paso.
The proposed location would be directly next to the Doubletree on the corner of North El Paso Street and Wyoming Ave. in the existing Doubletree surface parking lot.
Marriott has indicated its agreement to join with Scherr to create a brand new Marriott URBAN Courtyard in downtown El Paso. The proposed project would have over 140 rooms, including suites, fitness center, sushi bar, outdoor terrace and covered parking garage.
In 2005, Scherr redeveloped the International Hotel, which became the first public private economic development project in El Paso. The International Hotel had been shuttered and condemned by the city previous to its complete renovation into the Doubletree Hotel.
Initial estimates project the cost of the investment at over $16 million dollars, and bring in over $69 million in economic revenue to El Paso.
The proposed Marriott project is currently contingent upon tax credits and rebates from the City of El Paso and El Paso County to move forward.