Midway Development is hoping to build a $40 million hotel in San Marcos on the campus of Texas State University, but it is hoping it gets some help for the San Marcos City Council. The council is considering a $9.1 million incentive package that will include a rebate of 95% of both sales taxes and hotel occupancy taxes that are drawn down over time to 50%. There’s also a rebate of construction sales taxes. The project is slated for the Texas State University campus (photo).
The hotel will be a 130-key, full-service hotel with an event lawn and amphitheater, restaurant, bar and meeting and event space.
San Marcos is about 30 miles south of Austin. Its population is nearing 75,000, while TXST has an enrollment of upwards of 40,000.
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