UPDATED: Wednesday, June 6, 2012 - 11:37pm
WACO -- The corner of Franklin and University Parks in Waco could be getting a make-over soon further helping transform the city's downtown area.
The property owners of the Franklin and University Parks corner were granted a time slot of three years from the city to design a new riverfront hotel complex.
The city says the two pieces of property they have proposed to use cannot be taken by any other interested agencies.
The hotel would be the first of its kind in Waco and the only one on the riverfront.
The location is also prime for the Waco Convention Center and the new Baylor Football Stadium.
"I think what's being shown right now is exciting as so, the city is overall looking at great expectations for things to start really developing," Larry Holze, Waco City Hall spokesman said.
The hotel proposal shows it will have up to 200 rooms and parking garage next to it with a bridge connecting the two.