Today the Dallas city council moved forward with plans to build a convention center hotel claiming the city needs to remain competitive with other cities for conventions and tourist dollars by voting 11-2 in favor following Mayor Tom Leppert’s lead.

It’s a deal worth up to $520 million.

The city council’s decision clears the way for the city to buy an eight acre parking lot adjacent to the convention center for $42 million and own a 1,200 room hotel.

Dallas follows what other cities like Houston have done by building and owning a hotel and letting a management company run it.

The Dallas hotel would cost about $480 million to construct. The city would borrow the money and repay it with revenue from the hotel.

A long line of chambers of commerce, downtown supporters and hotels stood up to support the convention center hotel.

Only the Hilton Anatole, owned by Crow Holdings, opposed the hotel.

Construction should start late next year and be done for the Super Bowl in 2011.