HOUSTON – One of the city's first modern-style skyscrapers is being redeveloped into a 255-room hotel under the Starwood brand.
Located at 1121 Walker St. downtown, the 21-story Melrose Building will become the Le Meridien Houston.
Development Services Group is behind the redevelopment of the 63-year-old building, which has been vacant for 20 years.
Atlantic American Opportunities Fund is investing $15 million in the project, alongside a bank construction loan, State and Federal Historic Tax Credits and an equity investment made by the project’s sponsor.
The building is a recent addition to the National Register of Historic Places. Its redevelopment qualifies for historic tax credits.
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