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San Marcos council approves incentive package for proposed $40 million downtown hotel
Summary
The City Council approved a Chapter 380 incentive agreement to support a proposed 130-room, $40 million full-service hotel on Texas State University property at 429 N. Guadalupe Street, backing sales- and hotel-tax rebates over a staged period to help stabilize the project.
The San Marcos City Council voted 7–0 on July 1 to approve an economic incentive package with Midway Development LLC to support construction of a full-service, 130-key hotel on Texas State University property at 429 North Guadalupe Street.
Christian Smith, the city’s economic and business development manager, told council the proposed project would require a minimum $40 million capital investment and deliver a hotel product that city staff said is not currently available between Austin and San Antonio. The council-approved Chapter 380 agreement provides for…
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