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Right now, this is what the intersection of N. Stemmons Freeway and Edison Street looks like — empty offices and showrooms perched on a corner. But on Wednesday, the city council will consider offering up $1,605,000 in Design District Tax Increment Financing District dough to former Hillwood veep Mike Ablon, whose Pegasus Ablon Properties has been talking to the city’s Office of Economic Development for months about building on the corner a boutique hotel expected to cost more than $26 million. Ablon — who “participated in the initial development of Victory Park,” says his bio — is offering to build the following, says the council agenda:
The Design District Hotel will be a boutique style hotel located at 1605 and 1615 N. Stemmons Expressway at the Edison Street gateway to the Design District. The project will involve demolition of existing office/showroom buildings and construction of a new hotel containing approximately 100,000 square feet of building space; 190 hotel rooms; 3,000 square feet of retail space, and 250 structured parking spaces.
