The Allen City Council approved a development agreement with TCH Altera for the construction of The Convention Center at Watters Creek, an $85-million, full-service facility. The convention hotel will contain 290 guestrooms, a 64,500-square-foot convention center and a 1,000-car parking garage on seven acres at Bethany Drive and North Central Expressway, adjacent to Allen's premier Watters Creek mixed-use center.
5G Studio Collaborative was selected for architectural design. Aimbridge Hospitality will manage the hotel.
Projected to open in January 2017, the center will offer the largest convention and exhibition space among the north Dallas suburbs.
The multi-entity agreement provides for the city, Allen Economic Development Corporation (AEDC) and Allen Community Development Corporation (ACDC) to jointly contribute $12.3 million toward the capital investment in the project and to provide additional operational support over time. The AEDC will also contribute the land, which it has owned since the 1990s. TCH Altera has arranged construction financing and anticipates breaking ground by the end of this summer.
According to Allen officials, the convention center is being developed in response to Allen's growing corporate office and retail growth that drives demand for larger business and recreational events. This interest from corporate relocations also drove the recent announcement of Peloton Commercial Real Estate's Watters Creek Office Park, which will be built adjacent to the convention center with up to 860,000 square feet of new office space.