HOUSTON
Houston Mayor Annise Parker and Pearl Hospitality, the developer of the new JW Marriott Houston Downtown Hotel, announced that the building is undergoing renovations and will be open for business in spring of 2014. The conversion of the historic Samuel F. Carter Building at 806 Main St. aims to support downtown growth, preserve a historic asset and provide much-needed hotel rooms while furthering Houston as a tourist and convention destination.
The new luxury hotel will feature 323 guest rooms, a restaurant and full-service bar, a spa, health club, an executive lounge, swimming pool and 10,000 square feet of meeting space. The project will create 177 new jobs, 150 of them permanent.
"This is another example of Houston's thriving economy, and it is my goal to continue attracting job-creating projects and companies to our city," Mayor Parker remarked. "This is a perfect model of a public/private partnership that is a win-win for the community. It puts a vacant building into productive use, restores a historic structure, and most importantly creates jobs for Houstonians."
The $80.8 million renovation project includes several funding sources: $31 million in owner equity; $42.5 million in senior bank financing and $7.35 million financing by the City of Houston.
