MIDLAND, Texas — Soon, Midlanders will have a new place to spend the night in Downtown Midland.
On Tuesday, Midland City Council unanimously approved upon a tax abatement and a development agreement with LS Brentway, LLC for a new hotel in downtown.
The project has been talked about for the past couple years, but it was delayed by the COVID-19 pandemic.
It will be called Tapestry Hotel, and it will be a boutique-style hotel. Around 80 rooms will be available for guests while the hotel will provide valet parking.
It will be located at 112 South Loraine St., right across from the Hilton downtown.
The project was agreed upon with the promise of it being "hyper-local" - in other words, everything provided to the guests of Tapestry will be local to Midland.
“Hyper local means that from beds to coffee to all of the employees, all of that has to be provided by the hyperlocal program," Al Escamilla of Escamilla Media said. "That means from within the community.”
The agreement with Midland City Council included the tax abatement, which will help ease some of the financial strain faced by the city.
"It's a one hundred percent, ten year tax abatement and it doesn't cost Midlanders anything. Right now, it's on the tax roll for about $1.2 million, but they [Brentway] are going to put in about $15 million into it," Amy Stretcher Burkes said. "They're going to renovate an existing building, which we consider a win for us. We won't have to tear it down, and they're gonna improve the building."
Meanwhile, this does mean some shops in Midland Micro Market will have to be relocated. However, they will have some time before they need to move.
"As we progress, they are aware of what we are doing, and it’s always been a short term lease for them," Escamilla said. "They’ll start having to relocate, we’ll work with them obviously. The building owners will work with them to see what they need."
Escamilla said the developers will start working on designs this week and hope to begin renovations sooner rather than later.