The operator of a future Courtyard Marriott hotel and conference center in Pflugerville said the development group behind the project has closed on the sale of property.

The hotel will be located within 130 Commerce Center at the corner of Impact Way and Pecan Street near SH 130. A Best Western Plus hotel is under construction in the same business park.

"We are underway," said Paul Barham, CEO of Harrell Hospitality Group, the future operator of the hotel and one of three development partners. "We hope to be in the ground sometime late summer [2015]."

The hotel will cost more than $20 million and feature a pool, restaurant, fitness center and 20,000-square-foot conference center.

City officials approved an incentive package for the hotel potentially worth more than $22 million in May. Incentives include a full property-tax rebate for 15 years and sales tax rebates worth up to $1.65 million. The Courtyard developers will also receive 75 percent of the next four hotels occupancy taxes for one decade beginning the year each hotel begins operation.

The hotel occupancy tax incentives are capped at $625,000 per year for a potential maximum amount of $18.75 million, though it is unlikely to reach that maximum amount because only one other hotel is under construction in Pflugerville.

Barham said the developers have approved the brand with Marriott, and they are finalizing the project with lenders and architects.