With nearly less than a year before the scheduled reopening, downtown Dallas’ landmark Statler Hotel is the largest redevelopment project in town, and will likely promote further development near our neighborhood. Built at a cost of $15 million, the Statler was finished just after the Hilton and Statler hotel companies merged. The $111 million purchase of the Statler chain by Conrad Hilton was the largest real estate deal on record at the time.
The $175 million makeover of the almost 60-year-old Commerce Street hotel is about 25 percent completed. The city of Dallas is providing $46.5 million in financing incentives to redevelop the historic property, as the Statler was one of the last large vacant buildings downtown to be redone. The 3 rd through 8 th floors are being rebuilt as 161 hotel rooms that will be operated under the Hilton flag. The upper 10 floors of the 19-story building will be comprised of 220 apartments.
There will also be a 12,000-square-foot restaurant on the ground floor, along with retail space, a coffee shop and a diner facing Commerce Street. At the back of the second floor, the grand ballroom, more than 14,000 square feet, is being revamped as a grand entertainment hall. It still has the original stage where Sinatra and Elvis performed. In 1956 when that room opened, it was the largest hotel ballroom in the world without columns.
There will be 250 resident parking spaces in the basement. And just a block away on Harwood Street, Centurion American plans to build a 7- story parking garage with retail on the ground floor and apartments on top.
When the Statler reopens in 2016, Hilton will market the hotel portion of the project as one of its Curio hotels, a new chain of historic and luxury hotels.