This could soon be in Allen. Photo: Courtesy of Kalahari Resorts & Conventions
The Allen City Council will consider moving forward with a plan to attract a $1 billion indoor waterpark and resort to the city.
Why it matters: The proposal is projected to bring $5 billion in economic impact to the city in the first 10 years after opening.
City officials expect to collect $390 million in taxes from the resort over 40 years.
State of play: Kalahari Resorts & Conventions opened its first African-themed resort in Texas in 2020 in Round Rock.
The company is now considering opening a similar development in Allen near McKinney at State Highway 121 and Stacy Road.
The latest: The City Council will vote tonight on whether to authorize the city manager to negotiate a lease with Kalahari. The city's economic development corporation is under contract to buy the 123 acres for the project.
The development would include a 1.2 million-square-foot resort and convention center, with 900 guest rooms and an indoor and outdoor waterpark.
By the numbers: The resort is estimated to cost at least $950 million, about $375 million more than the Round Rock location due to inflation and construction cost increases.
The city is offering economic incentives that include capping permitting fees at $1.2 million and potentially $50 million in bond money.
The resort must maintain 500 full-time jobs.
What's next: If a lease agreement moves forward, Kalahari is required to start construction no later than 2030 but the goal is to complete the project sooner.
