TIF Approves New Hotel

Local

WACO, Texas  This week, the Tax Increment Financing Zone approved a $7.4-million dollar budget for a new Embassy Suites hotel.

Many residents say they are excited for the project.

“I think the city could definitely use more hotels because its growing exponentially, it would be great for the economy, it would bring jobs,” says Sylvia Baack, a long-time Waco resident.

Back in December, we interviewed a restaurant owner opposite the proposed hotel, he agreed it will add new opportunities.

“More hotels means more people can come to town and it helps all of the local businesses,” Tommy said.

According to the property developer, Birju Patel, the hotel plans to add up to 100 jobs to the area.

He says that some amenties will be available residents who are not staying at the hotel.

But those who are staying, the structure will comes with more than 170 rooms, an indoor swimming pool, a fitness center, and a cook-to-order breakfast.

The budget also allocates $3-million dollars toward parking.

“There is a parking demand, there’s a need for more parking,” says Patel.

Construction is slated to begin this fall and it should be completed in the next two years.

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