search

The Real Deal Logo

Trending

“Multifamily is in the crosshairs”: Execs talk distress, opportunities at Milken conference“Multifamily is in the crosshairs”: Execs talk distress, opportunities at Milken conference"Financially devastating": Receiver takes over embattled Pembroke Pines condo complex"Financially devastating": Receiver takes over embattled Pembroke Pines condo complexArbor modifies $1.9B in loans as delinquencies keep risingArbor modifies $1.9B in loans as delinquencies keep risingPinnacle Bank buys back Fort Worth office tower for $12 per sf Pinnacle Bank buys back Fort Worth office tower for $12 per sf 
Commercial
Fort Worth

Icon Lodging converting historic Fort Worth building into hotel 

11-story Bob R. Simpson Building most recently housed XTO Energy

Historic Fort Worth Building Being Turned Into A Hotel
Icon Lodging's Piyush Patel and Nimesh Patel with 110 W 7th Street (Icon Lodging, Google Maps, Getty)

A historic building in downtown Fort Worth that was most recently home to XTO Energy’s headquarters is poised for a major transformation.

Irving-based hospitality firm Icon Lodging is converting the 11-story Bob R. Simpson Building at 110 West Seventh Street into a Residence Inn hotel, the Fort Worth Star-Telegram reported. 

The $33 million overhaul is expected to begin in March and will take about a year to complete. Icon Lodging purchased the building last year for an undisclosed amount. 

The firm is working on several other projects in the Fort Worth area, including the Fairfield Inn & Suites downtown, the TownePlace Suites at 3450 West Vickery Boulevard and a Hampton Inn & Suites in Colleyville.

Built in 1910, the Bob R. Simpson building was originally designed for the First National Bank of Fort Worth. The Beaux Arts-style structure has been renovated several times over the years and was known as the Baker Building in the 1960s, the outlet said.

XTO Energy bought the 100,000-square-foot building in 2003 and restored it in 2005. It was renamed after XTO’s CEO. 

XTO, founded in 1986, previously played a crucial role in rejuvenating downtown Fort Worth. Exxon Mobil acquired XTO in 2010 and relocated 1,600 workers to Houston seven years later. In early 2022, the property was listed for over $12 million.

Sign Up for the undefined Newsletter

Dallas-Fort Worth led the nation in hotel development through the third quarter, with 189 projects totalling nearly 22,000 rooms in the pipeline. 

Among DFW hotels in the works, several are large-scale, luxury projects that are poised to have a major economic impact. In Frisco, Hall Group is building a $500 million, 224-room hotel that will be under the banner of Marriott’s exclusive Autograph Collection. This hotel is part of the $7 billion mixed-use development known as Hall Park. 

Carpenter & Company is at the helm of the highly-anticipated Four Seasons Hotel and condo tower in Dallas’ Turtle Creek neighborhood. Spanning 1.1 million square feet, the $750 million project is slated for 233 hotel rooms, 118 residential units and a 15,000-square-foot private club.

In Fort Worth, Blueprint Hospitality is planning a 14-story, 188-room hotel at 811 Commerce Street. 

—Quinn Donoghue 

Read more

Companies and People
Icon Lodging
Tags
HotelRedevelopment