Not quite three years ago, a representative from a development company told Denton officials that the economy had scuttled an ambitious plan to build a hotel and convention center on the University of North Texas campus.
Now that same man is back with a similar plan, but the economy has improved enough to change the picture.
Back in 2009, Scott Tarwater represented John Q. Hammons Hotels and Resorts, a successful development firm that was interested in building a full-service hotel and conference center on UNT land near Apogee Stadium. Hammons would build and run the hotel, which would be owned by UNT. It would also run the conference center, which would be built and owned by the city.
Both the city and UNT liked the plan, but it was Tarwater himself who finally pulled the plug on the idea, saying that the plummeting economy had scared investors away.
But Tarwater apparently never forgot the plan completely, and now - representing a different company - he seems sure he can get the investors lined up.
This new plan, this time proposed by O'Reilly Hospitality Management LLC, isn't exactly like the one proposed in 2009. It proposes two hotels - a 250-room, full-service hotel and second 100-roomer nearby. The conference center plans remain pretty much unchanged, though plans for its eventual management remain incomplete.
A well-built, well-run hotel complex and conference center would be a boon to both UNT and the city as a whole, and Tarwater and his company were confident enough in the improving economy to revive the idea.
UNT has remained enthusiastic about the project all along, and the Denton City Council is moving to get on board. The council has just about decided to sell certificates of obligation to pay for the construction of the conference center, though the size of the issue hasn't been settled yet. The council will also have to amend the city development code to allow for a conference center.
We think it's time for both the city and the university to proceed. Hammons has already proved the feasibility of the concept with successful city-university partnerships in Norman, Okla., and San Marcos. O'Reilly seems poised to do the same thing in Denton. The economy, while not yet fully recovered, is improving steadily. If O'Reilly can line up its investors - and keep them interested - the plan can work this time around.
There are always contingencies to look out for and due diligence to be performed, but this is a worthwhile project that can mean a lot to UNT, the city and all its residents.
Let us proceed carefully, but let us proceed.
