ED PROJECT
EDC Annual Report 2024 // 17
Great American Media
GAC Media , a prominent media enterprise holding U . S . cable networks Great American Family and Great American Faith & Living as well as streaming services , will relocate its corporate headquarters from Fort Worth . The company will establish a minimum of 20 high-quality jobs at the new location .
The City will reimburse GAC Media $ 100,000 for the relocation and preparation of its corporate headquarters as part of their Chapter 380 agreement , funded by the Innovation and Venture Capital Fund . This grant aims to support the company ’ s growth while ensuring that Arlington benefits economically from new job creation and long-term business operations .
ED PROJECT
Caravan Court Hotel
The Arlington City Council approved a redevelopment project for the former Caravan Motel property on the southeast corner of Collins and Division Streets . Through a partnership with Valencia Hotel Group , Division Hotel Management , LLC demolished the former motel site and adjacent Dollar Car Sales property , planning to turn the combined properties into Caravan Court Hotel , a 145-room upper upscale boutique hotel . The Caravan Court Hotel project will bolster efforts to change land use in the Division Street Corridor and increase opportunities for connections between downtown Arlington and the Entertainment District , which has been a City policy objective for over 20 years .
The total project cost is estimated at $ 45 million , with the City providing a $ 3 million grant to assist with demolition and site preparation with annual performance-based rebates equal to the amount of taxes ( City hotel occupancy tax , City sales tax and City property tax ) generated by the project for ten years . The City will provide an annual grant of up to $ 1 million to support the development for 10 years , which may be reduced if hotel occupancy tax performs better than current base-year projections .