Manchester Texas Financial Group, LLC manages all Texas- based holdings in commercial real estate and hotel development for Manchester Financial Group, a San Diego-based hotel and commercial real estate development firm. Manchester Texas Financial Group, MTFG, is responsible for the development of the Fairmont Austin Convention Center Hotel in downtown Austin, slated to open in June of 2017.
Manchester Texas Financial Group's inaugural project is the Fairmont Austin hotel.
In collaboration with leading global architecture and design firm, Gensler, Manchester Texas Financial Group’s inaugural hospitality development is a 1,066-room hotel adjacent to the Austin Convention Center along Waller Creek. Anticipated to earn the first LEED Gold Hotel designation in Austin, the project includes two restaurants, retail, and 115,000 square feet of meeting and exhibit space.
The Fairmont Austin will be built on a 1.74-acre parcel at the northeast corner of Cesar Chavez and Red River Streets, connected to the Austin Convention Center by an elevated walkway designed by Thomas Phifer and Partners, the same firm selected by the Waller Creek Conservancy to develop a master plan for the Waller Creek area. Waller Creek runs along the northwestern edge of the Fairmont Austin location.
The Fairmont Austin is expected to help Austin attract additional convention center business and meet pent-up demand. It will feature 106,500 square feet of meeting space, plus an additional 43,300 square feet of pre-function space and a 19,000-square-foot outdoor deck with space for 1,200 guests. Austin hosts major events such as F1, SXSW and Austin City Limits; however, a lack of rooms has held the industry back from landing other major conventions that bring stability and diversification to this part of the local economy.
The Fairmont Austin will generate upwards of $15 million in hotel occupancy tax and contribute $6 million in property tax annually, most of which will go to the Waller Creek TIF (tax increment financing) district.
The hotel’s design encompasses a number of green building elements that complements Fairmont’s industry-leading philosophy of operational sustainability and responsible tourism. More than two decades ago, Fairmont was the first hotel company to adopt a comprehensive environmental program and more recently became the first luxury brand to address climate change by pledging to significantly reduce CO2 emissions worldwide.
Additionally, MTFG supports efforts of the Waller Creek Conservancy and Austin Parks Foundation to ensure Waller Creek becomes an appealing community amenity.
Todd Runkle, Principal and Managing Director of Gensler’s Austin office, describes the design of the Fairmont as a significant architectural contribution to the city’s skyline as well as a catalyst for the development along Waller Creek.The design of the building incorporates a high level of sustainability including an energy efficient exterior skin, building systems while using local materials and promoting a more walkable downtown Austin.
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