Construction on the upcoming 215,000-square-foot Japanese luxury hotel near the former JCPenney headquarters began Oct. 15. The hotel, which will be Kintetsu Group Holding’s third in the United States, is projected to open in fall 2027.
The 12-story luxury hotel is expected to feature 217 rooms, a Texas-style rooftop bar and a traditional Japanese restaurant, according to a company news release.
What you need to know
The first agreement, an economic development incentive agreement, establishes an annual tax rebate for the hotel. Beginning Jan. 1, 2028, the city will refund 50% of the property taxes the hotel pays on its building for 10 years, according to city documents.