By Kat Barclay
The site where the Armour meatpacking plant once stood in the Fort Worth Stockyards will soon have a new purpose.
The Fort Worth City Council approved a $1 million incentive Tuesday for developers Niles City Resort Ltd. — a partnership that includes Stockyards businessman Philip Murrin — to turn the former plant into a hotel. The site is located at the corner of East Exchange Avenue and Packers Street. The hotel, which will be called the Armour Hotel, will stand at five stories with 120 rooms.
The agreement requires the developers to invest at least $21 million in the project by December 2019. The hotel must also have a four-star rating and employ at least 40 people full-time. Additionally, the project must be designed to reflect the historical heritage of the Stockyards, with an all-masonry facade among other design elements.
The hotel is one of several projects planned for the Stockyards. Majestic Realty Co., in partnership with the Hickman family, also has a $175 million redevelopment project in the works.
Read more on the Stockyards redevelopment plans here.