The City Council approved an economic development agreement on March 8 with RRTX Lake Creek Hotel, LP to construct The Ruby Hotel in downtown Round Rock. The upscale, boutique hotel will be located on three acres at 304 Fannin Ave. along Brushy Creek.
The site plan includes renovating an existing home to house a meeting space and bar and lounge that will be open to the public. The 39 guest rooms will be located in two new buildings on the property, which will have sweeping views of the creek. The existing pool on the property will also be refurbished for guests to enjoy. The design of the hotel will stay true to the character and history of the surrounding downtown neighborhood.
The agreement calls for LCH to invest at least $4.5 million and employ at least 35 full-time equivalent employees. In return, the City will abate 25 percent of City hotel occupancy and City property taxes in year one, 25 percent hotel occupancy taxes and 50 percent property taxes in year two, and 50 percent of both in years three through four. The City will also waive up to $13,000 in development application fees.
“The Ruby will be an exciting addition to our already vibrant downtown,” Mayor Craig Morgan said. “A boutique hotel perfectly complements our efforts to position downtown as a destination for visitors and locals alike.”
Shortly after purchasing the property, the developer found love letters on the ground addressed to “My dearest Ruby.” The developer embraced the name and has built the brand of the hotel around the idea of who Ruby might have been.
The groundbreaking is anticipated to take place by the end of March with a planned opening during the first quarter of 2019.