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Houston's historic Melrose Building to transform into Le Meridien Hotel Houston's historic Melrose Building to transform into Le Meridien Hotel https://www.recenter.tamu.edu/news/newstalk-texas/?Item=113172015-12-04T06:00:00Z2015-12-04T19:00:00Z

​​​HOUSTON - The 21-story Melrose Building in downtown Houston will be redeveloped into the 255-room Le Meridien Houston hotel.

Built in 1952, the Melrose building — located at 1121 Walker St. — has been vacant for 20 years.

A number of hotels are under construction in downtown, including the Aloft hotel redevelopment of the Stowers Building, across from the Le Meridien site.

The Le Meridien, is being developed by Development Services Group with funding from Atlantic American Opportunities Fund.

The Atlantic American fund made a $15 million equity and subordinate debt investment 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 Melrose Building was one of Houston’s first modern-style skyscraper, and has recently been added to the National Register of Historic Places. The redevelopment project qualifies for historic tax credits.

Realty News Report
Houston-The Woodlands-Sugar Land
Hotel
http://realtynewsreport.com/2015/12/01/historic-building-in-downtown-houston-becoming-le-meridien-hotel/Source: {Source}

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