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Austrian-based Therme Group is planning its first U.S. resort hotel on land near 1500 S. Riverfront Blvd. in Dallas, overlooking the Trinity River. The 24-acre project would cost $800 million to build. It could generate more than $1.8 billion in tax revenue over the first 30 years, with $1.1 billion in local tax revenue.

The Dallas Business Journal reports the resort development could generate more than 1,000 jobs and billions in tax revenue while attracting millions of visitors a year to a site in a mostly overlooked part of downtown, sandwiched between the Cedars neighborhood, the Trinity River and I-35E.