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**Texas State University Approves $70M Boutique Hotel Development**
The Texas State University Board of Regents has approved a development agreement with Midway to build a $70 million boutique hotel on the San Marcos campus. The project will be located on a 3-acre site at 429 N. Guadalupe Street and includes a ground lease with two potential 10-year extensions.
Plans for the 120,000-square-foot, full-service hotel call for at least 130 guest rooms, along with a restaurant, bar, pool, courtyard, and flexible meeting and event space. The design will also feature an event lawn and amphitheater, providing a much-needed upscale lodging option near downtown San Marcos, where full-service hotels are currently lacking.
San Marcos, a growing city of nearly 75,000 residents, is located about 30 miles south of Austin. Texas State University, one of the largest universities in the state, enrolls approximately 40,000 students.
As part of the project, developers will receive a $9.1 million incentive package from the city of San Marcos, disbursed in 10 payments. The agreement requires a minimum investment of $40 million, with construction slated to begin by the end of 2026 and reach completion within 30 months.
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