Loews Hotels and Co. is building another high-profile hotel in the heart of Arlington, adding to the plethora of hotels rising in Tarrant County.

Earlier this week, Arlington city leaders approved a public-private partnership to build a new 500-room hotel and replace the existing Sheraton Arlington Hotel near I-30.

Here’s a numerical snapshot of the new development and how it will impact the city.

The new hotel will be located adjacent to the existing Sheraton Hotel. | Map provided by the city of Arlington

$410 million project

The 311-room Sheraton Arlington was built in 1984 and was acquired by Loews over the summer. Under the new agreement, the 19-story hotel will need to be demolished before September 30, 2026.

The $410 million Loews project — located adjacent to the existing Sheraton Hotel — will include at least 500 rooms. Here's what else we can expect:

25,000-sqft convention center
735-stall parking garage with a weather-protected walkway to the Esports Stadium Arlington and the newly relocated Arlington Museum of Art.
Potential future phases for retail, residential, and restaurant spaces.

Construction on the parking facility could start as soon as next year. The groundbreaking of the hotel and convention center will begin by December 31, 2025, and be completed no more than three years later.

Here's an overview of the current and future developments underway in the Entertainment District. | Map via the city of Arlington

$3.1 billion economic impact

The new hotel is expected to have a $3.1 billion economic impact over the next 30 years and net $711 million in benefits for the city of Arlington, Tarrant County, and Arlington ISD.

It will also create an estimated 250 permanent jobs and 1,200 construction jobs.

Be near the actions with a stay at Live! by Loews - Arlington, TX. | Photo provided by Loews

Three Loews hotels

Additionally, Loews will open the brand new $550 million Loews Arlington Hotel — between Globe Life Field and Choctaw Stadium — by February 13, 2024. The 14-story high-rise has 888 rooms, meeting space, and the 150,000-sqft Arlington Convention Center.

Back in 2019, the company opened the 300-room Live! by Loews Hotel, adjacent to Texas Live!. All three hotels will give the New York-based hospitality group almost 1,700 hotel rooms in Arlington.