McKinney city leaders and Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today marked a milestone in the development of the new Sheraton McKinney Hotel. City leaders and subcontractors celebrated with a topping out luncheon.
“We are thrilled to have reached this milestone,” said McKinney Mayor Brian Loughmiller. “The topping out ceremony gives us a way to celebrate the progress we’ve made toward completion of the project. The contractors and subcontractors have worked hard and we want to recognize them for the work they’ve done.”
The City of McKinney and the McKinney Community Development Corporation (MCDC) teamed up with Champ/Beck Development to build the $38 million Sheraton McKinney Hotel at the corner of Highway 75 and the Sam Rayburn Tollway. The 186-room Sheraton will be McKinney’s first upscale, full-service hotel and will be connected to a 20,000 square-foot event center; both slated to open in February 2015.
Sheraton McKinney Hotel will feature the brand’s signature Link@SheratonSM experience with Microsoft® – a relaxed space with complimentary wireless broadband where guests can socialize and connect with friends, both old and new. In addition, the hotel will offer a full-service restaurant and lounge, Sheraton Club Lounge, and a fitness facility featuring the brand’s revolutionary new health and fitness program, Sheraton Fitness® by Core Performance™. All guestrooms and suites will be outfitted with the all-white Sheraton Sweet Sleeper® bed, designed to meet AAA’s Five Diamond Award® criteria, as well as an oversized work desk, ergonomic chair, high-speed Internet, and LCD flat panel television.
The hotel is being developed by Champ/Beck Development as a joint venture between Champ Hospitality and The Beck Group which brings together Champ Hospitality's 30 years of hospitality experience and Beck's reputation as a leading designer and builder in the Dallas area for the past 100 years.
“We are pleased to celebrate this phase of the project,” said Joseph H. Champ, Champ Hospitality president. “The Sheraton McKinney will be an important landmark at the gateway to the City and will continue to enhance the reputation of the City as a great place to live, work and visit.”
Funding for the project includes funds from the City of McKinney, McKinney Community Development Corporation, private equity and bank financing. The City of McKinney will pay for the cost of the conference center, which the City will own once it is open.
The City of McKinney has been recognized by Realtor.com as the second most-searched-for places to live. In addition, CNN Money named the city the second best place to live in the nation, citing plenty of housing options; low taxes; abundant job opportunities in technology, energy and medicine; as well as a new conference center and hotel complex in the works. The Realtor site Movoto.com also named McKinney the second best place to live in the country among mid-sized cities. Sheraton McKinney Hotel will offer convenient access to the Ball Fields at Craig Ranch, Southfork Ranch, and the offices of Collin College, Emerson Process Management, Encore Wire, McKinney Corporate Center at Craig Ranch, Medical Center of McKinney and Raytheon SAS.
Information provided by The Margulies Communications Group