IRVING, Texas (Feb. 8, 2013) - On Thursday, Feb. 7, the Irving City Council approved a Memorandum of Understanding with Mortenson Development, Inc., which allows the parties to move forward with a development agreement for a $90 million, 350-room, upscale, full-service Irving Convention Center at Las Colinas (ICCLC) headquarters hotel.

"This is great news for the city of Irving. We have a beautiful, award-winning convention center located next to one of the largest airports in the world. This hotel and the amenities it brings will make Irving a highly sought after convention city, said Irving City Manager Tommy Gonzalez.

"The business generated will result in a tremendous lift to our economic base."

Mortenson Development, Inc. will fund, design and build the hotel, which will also include a 300-space parking garage, a sky bridge linking the hotel to the ICCLC, and 20,000 square feet of additional meeting room space.

"Mortenson, Leo A. Daly and Swerdling & Associates are honored to have been selected by the City of Irving for this exciting project, said Nate Gundrum, senior development manager with Mortenson Development, Inc.

"We have been very impressed by the focus and commitment of the City's staff, consultants and elected officials to get to this point in the project.  We look forward to contributing our hotel development and construction expertise and structuring of public-private partnerships to ultimately complete the City's vision for the convention center."

Two upscale hotel brands are in play.

The development agreement is expected to be finalized in May and with a hotel brand announcement in June. Groundbreaking will take place later this year, and a grand opening is slated for third quarter 2015.

"This is an important next step for Irving as we continue with our destination development vision - adding an attached headquarter hotel to the ICCLC has always been a part of the plan, and it has clearly remained a high priority for us. I am thrilled to see this moving forward with the unanimous support of our City Council and our Board of Directors, said Irving Convention and Visitors Bureau Executive Director, Maura Allen Gast.

"The next steps for the City remain the most critical - locking in the details of the development agreement and working with Mortenson to finalize the flag. The moment that's done, our sales and marketing teams will be primed to hit the ground rolling."
- end -