Construction kicks off Thursday for a 224-room Sheraton hotel and conference center in Georgetown. Novak Brothers and Hines host a groundbreaking ceremony for the new Starwood-operated hotel at 2 p.m. on February 19. The event is at Rivery Boulevard and Wolf Ranch Parkway at the Summit at the Rivery Park development.
Starwood Hotels and Resorts will operate the Sheraton Georgetown Texas Hotel and Conference Center that is expected to open in the summer of 2016.
The Summit at Rivery Park project includes multiple restaurants and shops also expected to open with the hotel. The development also includes 223 luxury rental units available next month and 114 single-family brownstone residences. Novak Brothers, the developer for the Summit at Rivery project, has already constructed 31 brownstone residences at the site. Hines, an international real estate development firm headquartered in Houston, is a partner in the hotel and conference center.
A new multi-level public parking garage will be constructed with the project and available for users of the hotel and conference center, Rivery Park, and the public. The Rivery Park Tax Increment Reinvestment Zone, a partnership including the City of Georgetown and Williamson County, will reinvest revenue generated by the project to fund the parking garage, improvements in Rivery Park, public roads, and utility infrastructure.
The Summit at Rivery Park project on I-35 will serve as a northern gateway to the Austin metro area and an anchor for future retail, office, and residential development in the center of Georgetown.