The city of Arlington and Loews Hotels & Co. are hoping to break ground on another massive hotel project in the city’s entertainment district in January 2020, just months after opening the Live! by Loews concept hotel attached to the new Rangers ballpark.

The new project will include a $550 million, 888-room hotel called Loews Arlington as well as a 150,000 square-foot publicly owned convention center, according to an analysis made public by the City of Arlington.

The project will make use of some of the existing underground parking below the old Globe Life Park for exposition space and will connect to the recently opened Live! by Loews Arlington hotel attached to the new Rangers ballpark by a pedestrian skybridge.

Plans for the convention center include nearly 1,200 rooms and more than 180,000 square feet of meeting space.

The city intends to leverage the public-private partnership with Loews to capitalize on missed business opportunities. Arlington lost out on about $16 million in hotel stays over the one-year period between November 2018 and November 2019, according to the Arlington Convention and Visitor’s Bureau.

The entirety of the project will be funded in advance by the developer using private equity and debt. Billionaire Jonathan Tisch, owner of the New York Giants football team, is chairman of Loews Hotels.

The hotel and convention center will, however, require $50 million from the city over the next 30 years in the form of performance-based rebates for city and state hotel occupancy, sales and mixed-beverage taxes as well as a one-time $10 million payment for the underground exposition center renovation.

The city is expected to vote Tuesday on the development. If approved, the project could be completed by 2023.

But Arlington will be considering approval of much more than just a hotel and convention center.

The city will also be looking for approval to move forward with a near facelift of the remainder of the intersection surrounding East Randol Mill Road and Nolan Ryan Expressway.

Through a public-private partnership with the Cordish Companies, Arlington wants to develop the southwest corner of Globe Life Park stadium into 200,000 square feet of office space. Included in the Cordish Companies project are plans to develop 280 residential units along with 100,000 square feet of restaurant, retail, parking and small business incubator space on the southeast corner of the intersection.

The city has proposed making an initial, one-time $11 million grant toward the residential and office development with Cordish Companies providing a $200 million investment in the project. The rest of the funding for the project will come from $49.6 million in bonds plus interest, according to city documents.

If approved, the office project won’t move forward until an anchor tenant is found and could be completed within a year and a half of that date, according to the city. The old Rangers ballpark announced it was seeking new office and retail tenants in November.

Tisch has described the burgeoning entertainment district as “a resort in the middle of Arlington.” Texas Live! opened a year ago and includes a multilevel sports bar, restaurants and a 5,000-seat concert venue. It’s in close proximity to Six Flags Over Texas amusement park, the city’s esports arena and AT&T Stadium where the Dallas Cowboys play.