Downtown DoubleTree owner wants to build a hotel Downtown with City help

POSTED: 03:17 PM MDT Oct 04, 2013    UPDATED: 01:29 PM MST Jan 16, 2014 
Rent - El Paso
EL PASO, Texas -

Jim Scherr, the owner of the DoubleTree Hotel in Downtown El Paso, would like the City's help in funding the construction of another hotel Downtown.

Scherr went public with the plan on Friday.

"Eight years ago,this community backed us to create the first public private economic development project in El Paso," Scherr said in a statement. "We respected that trust and have made certain that we did everything the right way, in a fashion everyone in this City can be proud of. We knew that we were setting an example of how to do it right. Now we have performed and are ready to move forward on the step."

"For over two years we have been working to bring a brand Major HotelFranchise,a new High Rise Hotel to Downtown El Paso. Marriott has indicated its agreement to join with us to create a brand new Marriott URBAN Courtyard for Downtown El Paso," Scherr said in the statement. "The proposed project will be a 15 story skyscraper with over 140 rooms,including suites, fitness center,sushi bar,outdoor terrace and covered parking garage. The investment in the project will be over $16,000,000.  According to an economic impact study performed by Richfield Hospitality the direct economic benefit to El Paso and the State ofTexas exceeds
$69,000,000."

Scherr said they have presented the project to the City of El Paso and the County of El Paso, saying their help "is absolutely necessary to make this project a reality."

El Paso City Council will discuss the proposed hotel on Tuesday.