$5 Million in Incentives Approved for Emerald Beach Hotel Redevelopment Project

CORPUS CHRISTI, TX - The Tax Increment Reinvestment Zone (TIRZ) #3 board approved a $5 million reimbursement agreement to support the redevelopment of the historic Emerald Beach Hotel into a dual-branded property featuring a Holiday Inn Express and Hotel Indigo. The Emerald Beach Hotel, originally built in 1965 as Wilber Clark's Crest Hotel, holds historic significance in Corpus Christi, and this redevelopment will modernize the property while preserving its iconic status.

The hotel's redevelopment will involve an investment of approximately $33 million in the existing structure and will consist of extensive interior and exterior improvements, including:

• Guest rooms and meeting spaces
• The building façade and landscaping
• Parking lot improvements
• The addition of a rooftop bar and entertainment space
• The addition of three on-site restaurants
• Updates to the outdoor pool area.

Once the project is completed, the developer is eligible to receive up to $5 million in reimbursements through several TIRZ #3 programs, including the Streetscape and Safety Improvement Program, Rooftop Activation Program, and a Project Specific Development Agreement.

C&P Monarch LP, which acquired the property in 2021, is leading a two-phase redevelopment plan. Phase One, the renovation of the South Tower into a Holiday Inn Express, has been significantly completed. Phase Two will rebrand the North Tower as Hotel Indigo, upgrading guest rooms, common areas, meeting spaces, and amenities. The renovation will also introduce a new virtual game room, rooftop bar, updated pool area, and outdoor bar.

The approval reflects a collaboration between the City's Office of Economic Development and the Corpus Christi Downtown Management District, furthering efforts to revitalize the downtown area.

Media representatives can contact Cassandra Hinojosa, Public Information Officer, at 361-826-2944 or by email at [email protected].