Austrian-based Therme Group is planning its first U.S. resort hotel on land near 1500 S. Riverfront Blvd. in Dallas, overlooking the Trinity River. The 24-acre project would cost $800 million to build. It could generate more than $1.8 billion in tax revenue over the first 30 years, with $1.1 billion in local tax revenue.
The Dallas Business Journal reports the resort development could generate more than 1,000 jobs and billions in tax revenue while attracting millions of visitors a year to a site in a mostly overlooked part of downtown, sandwiched between the Cedars neighborhood, the Trinity River and I-35E.
The developer would partner with The Georgetown Co. on the hotel, which could open by 2030.
Zoning and development approvals are still needed. The company plans to apply for incentives from the City of Dallas.
Therme operates resorts in Europe.
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