For a second time, Flower Mound Town Council is extending the completion deadline for a hotel at Lakeside Crossing, which is located on the west side of Long Prairie Road and south of the Long Prairie/Lakeside Parkway intersection.
The developer said the extension is needed as they had to negotiate with a new hotel brand. The development had two prior hotel deals fall through.
The hotel was originally to be branded Unscripted, later Hotel RL and now Hotel Indigo. Flower Mound Town Council voted to extend the deadline for the hotel for the first time at the Dec. 17, 2018, council meeting. At that time, Hotel RL was the intended hotel.
The original Chapter 380 agreement between the town and the developer gave a deadline of June 3, 2020, for the hotel to be complete. The deadline was extended to Feb. 15, 2021, and now it is June 15, 2021.
The rest of the buildings in the development must be complete by June 15, 2022.
Economic Development Director Andrea Roy said to confirm project progression, the applicant has provided the town with proof of contracted architectural services for the hotel building design and correspondence from Hotel Indigo’s parent company, InterContinental Hotels Group, indicating approval of the franchise application for this location.
Since this is the second time the town has extended the deadline, the real and business personal property rebate is being reduced from seven years to five years in exchange for the extension.
Read more about the first extension here.