The 2.3 million-square-foot Walter E. Washington Convention Center in Washington, D.C., is finally getting its headquarters hotel. Construction on the new $537 million, 1,167-room Marriott Marquis is scheduled to begin this fall, with a targeted opening date in the first quarter of 2013. The property—which will be one of only three Marriott Marquis hotels in the country (the others are in New York and Atlanta)—will be located across the street from the WCC.

The Council of the District of Columbia gave its final approval to public financing legislation for the four-star hotel on Tuesday, July 14. The convention center has been without a headquarters hotel since it opened in March 2003.

“The new hotel will allow us to not only maximize the center’s economic impact but will also create jobs for District residents during construction as well as operations of the hotel,” said Gregory A. O’Dell, CEO and general manager of the Washington Convention Center Authority, in a statement. Construction is expected to spur other redevelopment projects in the area.