325 hotel rooms planned for Texas Medical Center area

​​​HOUSTON – Locally based Medical Center Fannin OST Investments LP recently bought 7329 Fannin and 1803 Old Spanish Trail from Dixon Financial Services Ltd. 

The buyer plans to redevelop the 1.3-acre site into two nationally branded hotels totaling 325 rooms. A restaurant​ is planned for the ground floor, and parking will be on the upper levels.

The project is scheduled to break ground in late 2016 with construction slated for completion in mid-2018. HarDam Hotels LLC will develop the project.

Colliers International represented the buyer, while SRC Properties represented the seller. Platinum Title Partners LP coordinated the closing of the land deal, and Independent Bank handled the financing.