Dallas' Statler Hilton sold with plans for $175M redoDallas' Statler Hilton sold with plans for $175M redohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=41102014-05-28T12:04:00Z2014-05-28T00:00:00Z

DALLAS - Centurion American has purchased the 589,457-sf Statler Hilton hotel and the adjacent once-upon-a-time central library, which totals 131,800 sf.

The Carrollton-based developer purchased the buildings on the condition that it will give the complex a $175 million makeover. The renovations will include residential units, hotel rooms, restaurants, retail and office spaces, a lounge, a live-music venue, a six-screen movie theater and even some new buildings on nearby parking lots.

The Dallas City Council approved $46.5 million from the Downtown Connection TIF, of which $43.5 million would come in the form of an economic development TIF grant.

Work on the renovation is expected to begin near the end of 2014, with completion expected for October 2017.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://cityhallblog.dallasnews.com/2014/05/finally-officially-the-statler-hiltons-in-the-hands-of-a-new-owner-promising-175-million-makeover.html/Read more at {Source}

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