CONNIE SWINNEY • STAFF WRITER
MARBLE FALLS — A timeshare development project by an international company that is nearing completion will offer dozens of units and is expected to add a substantial boost to the city of Marble Falls tax base, officials say.
The Wyndham Worldwide Corp. project, located on RR 2147 West, is an estimated $13 million venture that could add approximately $95,000 to the tax base.
According to its website, Wyndham Worldwide Corp. has thousands of motels, hotels, resorts, timeshares and condominium developments around the world with an emphasis in 2014 on new developments in the Middle East, India, Latin America, Asia and Europe.
“Having Wyndham involved in Marble Falls is a huge win for our community just with the exposure that will come from it,” said Christian Fletcher, executive director of the Marble Falls Economic Development Corp. “People who have timeshares like to travel and have Marble Falls on the map that way.”
The site is the former location of a failed multimillion-dollar private condominium development overlooking Lake Marble Falls.
In 2004, crews halted the condo project because of foreclosure and lack of investors after building two of six proposed complexes planned in a stair-step configuration down the side of a rocky hillside.
In 2015, the Marble Falls City Council approved re-zoning the property to accommodate the Wyndham project.
The project will have 94 units, including one-, two- and three-bedroom sizes as well as penthouses. The facility will include an amenity center for guests, who are projected to stay an average of four nights.
Officials expect the timeshare to employee more than 30 staff members.
The first occupancy in four buildings is scheduled for July 27 with the amenity center set to open in December.
“Not everything will be finished when the first guests come,” Fletcher said.
The grand opening of the entire development is projected in January 2017.
A number of units are proposed for overnight stays and subject to the hotel/motel tax.