posted on March 11, 2011 01:03
Dallas Mayor Dwaine Caraway announced Wednesday afternoon that the historic Statler Hilton Hotel will be redeveloped.
The news confirmed rumors circulating within the real estate community in recent weeks.
The work will be a catalyst for other downtown development, Caraway said during the announcement at the Main Street Gardens, with the Statler serving as a backdrop.
The face of the 55-year-old Statler building will be preserved.
Developer Leobardo Trevino of San Antonio-based Ricchi Investments will oversee the work, which will include redevelopment of the old Dallas Central Library next door. This is Trevino's second Dallas redevelopment project. He is currently working on the old LTV Tower.
"We're going to make Dallas proud of the building," Trevino said. "We're going to clean it up and make it shiny for investors."
Caraway credited former Mayor Tom Leppert for the vision behind the Statler redevelopment.
"The greatest hurdles to progress have now been cleared," he said.
3/2/11, Candace Carlisle, Dallas Business Journal