Published on October 24th, 2014 | by BuildingATX Staff
$370M Fairmont Hotel Secures Financing; Set To Break Ground
The long-anticipated Austin Fairmont Hotel is officially a go. Developers Manchester Texas Financial Group (MTFG) have secured financial backing from Los Angeles-based Colony Capital, LLC. This means we will see construction start soon on the $370 million luxury hotel adjacent to the Convention Center.
“It’s time for construction of the Fairmont Austin to fire on all cylinders,” said Doug Manchester, president of MTFG. “We’re thrilled to have aligned with a first-class operator in Fairmont and a premier funding source in Colony Capital, and it’s all the more exciting given how strongly we believe in Austin.”
We now have details on the final design of the hotel, according to a press release: Final designs for the Fairmont Austin call for 1,066 rooms in 37 stories, plus four levels of underground parking, totaling nearly 1.4 million square feet. The hotel will rise approximately 595 feet, making it the second tallest structure on downtown Austin’s skyline, which is currently dominated by the 56-story, 680-foot Austonian residential tower. The press release also noted in it’s opening paragraph that this will be the first hotel with a direct connection to the Austin Convention Center via a sky bridge.
Below is the latest rendering:
The Fairmont will be Austin’s second tallest tower and is set to open in mid-2017.
The project architect for the hotel is the Austin office of powerhouse firm Gensler while Thomas Phifer and Partners is the architect for sky bridge connection to the convention center. Landscape architecture for the project was provided by Austin-based DWG. The civil engineer for the sky bridge was BIG RED DOG. Thomas Phifer, DWG, and BIG RED DOG are also on the Waller Creek Conservancy’s design team with Michael Van Valkenburgh and Associates.
Stay tuned to BuildingATX as we continue to follow this developing story.