HomeMy WebLinkAboutHotel & Conference Center Press Release, Eagle Article, and Aerial Map
July 14, 2000 For Immediate Release
The City of College Station and the Adam Corporation/Group
Announce Joint Development
The City of College Station is pleased to announce an agreement among TAC Realty, a subsidiary of
the Adam Corporation/Group, College Main, Ltd. and the City of College Station.
The Adam Corporation/Group, through its wholly-owned subsidiary TAC Realty, Inc., will purchase
55 acres from College Main, Ltd. for a development that will include a hotel, conference center, the
corporate headquarters building for the Adam Corporation/Group and a site for a Performing Arts
Center. The 55-acre tract is located on the south side of University Drive between Highway 6 and
FM 158 and across from The Physician's Center.
College Station Mayor Lynn McIlhaney said, "The City Council is enthusiastic about the agreement
with TAC Realty and the opportunity to move forward with this project. We strongly believe this
development will have a positive impact on the entire community and enhance our reputation as a
premiere destination. We are pleased the private sector has come forth to implement this exciting
project."
TAC Realty will construct a 200+ room full-service hotel that will provide the hotel component for the
City of College Station to proceed with the 45,000 square foot conference center project that has
already been approved by voters. TAC Realty will sell the City of College Station approximately 10
acres of land at $10,000 per acre for the conference center. TAC Realty and the City of College Station
will identify and approve a hotel operator.
In conjunction with the hotel construction, Miramont Development will begin construction of a second
18 holes of golf designed by Robert Trent Jones, Jr. to provide golf access to the hotel and conference
center guests. It will either be constructed as part of Phase II of Miramont as originally planned or on a
site closer to the hotel.
The Adam Corporation/Group will build a 270,000 square foot corporate headquarters building on the
University Drive site, which is a convenient commercial location. The amenities of the other
components will add to the attractiveness for the entire development, the Adam employees and
potential tenants.
It is hoped that this site will also house a Performing Arts Center. "The Performing Arts Center should
be a vehicle to enhance the quality of life in Bryan, College Station and the entire Brazos Valley,"
stated Donald A. Adam, Chairman of The Adam Corporation/Group and TAC Realty, Inc. "This site
adjacent to the joint city limit would be convenient to all residents of the area. Should the Performing
Arts selection committee approve the site, I would be happy to donate the land for the Performing Arts
Center and offer a substantial donation toward the construction fund with a challenge to both business
communities to match it."
-more-
If approved by the Performing Arts selection committee, TAC Realty will donate approximately nine
acres of the tract for the Performing Arts Center. TAC Realty or its designee will also donate a lead
gift of at least $1,000,000 toward construction costs of the Performing Arts Center, conditioned upon
matching funds by other donors.
"As the largest locally owned business in Bryan/College Station, The Adam Corporation/Group always
makes a concerted effort to provide for equitable economic benefits to both communities," commented
Bill Atkinson, President, The Adam Corporation/Group.
The Adam Corporation/Group through the Miramont Development Corporation is providing a
significant investment in the City of Bryan that addresses Bryan's needs for an upscale residential
country club community providing upscale homes. College Station has an approved conference center
that has been in need of a hotel component. "The Adam Corporation feels we are being of assistance to
the City of College Station and to the City of Bryan by providing economic benefits to both
communities," stated Atkinson. "As is heretofore cited, we are meeting the needs of both cities and are
sharing our capital investment in a fair and equitable manner."
The entire Brazos Valley community will benefit from this project, which the City of College Station
has been planning since 1996. The scope, vision and quality of the proposed project remain the same,
only the location has changed. The benefits include:
The site allows for easy access due to its proximity to Highway 6, Highway 30, Highway 60 and
FM 158;
Located on both city limit boundaries, this development is in a central location for both cities;
Brazos County, the City of College Station and Bryan Independent School District will benefit
from increased tax revenues associated with the development;
The agreement between the City of College Station and TAC Realty overcomes financing issues
that previously hindered development of the hotel;
A shared location creates synergy between the corporate office, hotel and conference center and
benefits both cities;
Surrounding uses in both cities will be complemented by an attractive, high-quality, mixed-use
development;
Consultants retained by the City of College Station have indicated that the Highway 60 location is
appropriate for a hotel and conference center, and is enhanced by the golf course component
available to hotel and conference center guests;
Associated infrastructure improvements will allow for significant development of the Highway
30/60 corridor; and
Hotel and conference center guests will benefit from the close proximity of the City of College
Station’s future athletic complex, Veterans Park.
For more information, call the City's Economic Development Department at 764-3510.
# # #
Hotel/Conference Center
The City of College Station has entered into a tri-party memorandum of
understanding with TAC Realty, a subsidiary of Adam Corporation
(parent company of First American Bank), and College Main, Ltd. that
will provide a new location for the proposed College Station Conference
Center and a three-hundred room hotel. The Adam Corp. headquarters
will also be located on the site. In addition, the Arts Council of the Brazos
Valley has chosen the location for a Performing Arts Center.
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