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City Council approved a Chapter 380 Economic Development Incentives Agreement that will result in the development of Corinth’s second hotel -- Marriott's Fairfield Inn & Suites -- at their regular session held October 19, 2017. The performance-based agreement is the culmination of months of collaboration between the City, Corinth Economic Development Corporation and developer, 6Q Hospitality L.L.C., to recruit Fairfield Inn & Suites to Corinth.
Under the agreement, the developer is committed to investing a minimum of $10 million and creating a minimum of 22 full-time employment positions by January 2021. The agreement also calls for the developer to construct a four-story hotel with at least 88 rooms, a 1,700 square-foot conference center and other amenities while maintaining the Fairfield Inn & Suites brand in Corinth during the term of the agreement.
The hotel and conference center is planned to be constructed and operated at Millennium, one of Corinth’s trend-setting mixed-use projects breaking ground earlier this month. The approximately 24-acre mixed-use project is located to the east of Interstate Highway 35E, and north of Dobbs Road, at one of the most visible and sought after locations in Corinth. With market-rate residential units and light retail already under construction and expected to be delivered to the market in Fall 2018, Millennium is destined to raise Corinth’s regional profile by introducing a synergistic mix of uses and activities in an environment carefully disciplined by traditional placemaking principles.
The hotel and conference center, featuring a primarily masonry exterior and introducing Marriott’s fourth generation prototype of the Fairfield Inn & Suites to Corinth, will readily and easily adapt to Millennium’s elevated development standards while creating a strong visual gateway into the development. Along with the forthcoming residential units and light retail activity, the hotel and conference center will attract other retail and restaurant brands to the development and surrounding properties.
Expected to be a key anchor at Millennium, the Fairfield Inn & Suites is scheduled to open by October 1, 2020.