Dec. 01–The Cordish Cos. said Thursday an affiliate has submitted plans for a $2.2 billion hotel and entertainment district in Spain.
The Baltimore-based company said the project will be on more than 300 acres in the Torres de la Alameda sector of Madrid.
It will include as many as 2,700 new hotel rooms — three hotels are in the initial plan — as well as retail and shopping outlets; dining venues, convention and office space and entertainment. "The Great Central Plaza at the heart of the project will include a large mercado, specialized bars, lounges, dance clubs and cafes," Cordish Cos. said in a news release.
The company, which just announced the plans in Spain, said it would submit the proposal to government officials in Madrid for approval.
The development is expected to "enhance the regional resort and entertainment markets" and become a "major domestic and international tourism destination," said Joe Weinberg, managing partner for Cordish.
The company said the project would create more than 56,000 permanent jobs and construction-related jobs.
Cordish owns the Maryland Live casino, which opened in 2012 adjacent to Arundel Mills mall. The company recently purchased a nearby hotel and is building a new one on the site.
The new hotel is to be the first of many featuring the "Live!" brand with an exclamation point. Others are slated for Philadelphia, in the stadium district, and Arlington, Texas.
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