What’s happening?
The Ruby Hotel is planning to purchase property next to its existing location and has proposed building a new event center at 408 Fannin Avenue.
As part of the agreement, the hotel will sell a portion of the land to the city of Round Rock to be used for a bridge landing. The bridge is part of the city’s plans to develop a park along the creek, also known as The Lawn.
City Manager Brooks Bennett said the city will loan The Ruby Hotel $2 million—to be paid back in four years—for renovations to the existing property. The city will also forgive any interest if timely payments are made.
Quote of note
“It’s important to note that this is a broad agreement,” Bennett said. “There will be a very clear and substantial agreement come to the council in the not too distant future that outlines all the significant terms while we negotiate things, such as the price of the land [and] the way the interest will accrue and be calculated.”
In case you missed
The city has plans for a new park, dubbed The Lawn, meant to foster a family-friendly atmosphere in the downtown area.
Design plans for the roughly 20-acre park began in February, and include renovations to the surrounding area and downtown water tower. Along with a connection from Heritage Trail West to Veterans Park, other proposed features include a canoe launch, boardwalk, extended sidewalk for craft fairs and 6 acres of green space along Pecan Street and Georgetown Street.
