A development firm with ties to Ed Roski’s Majestic Realty is planning to invest $20 million to renovate a historic Fort Worth hotel.
Heritage Development — a joint venture of Majestic Realty and Fort Worth-based Hickman Companies — plans to renovate the 26,500-square-foot Stockyards Hotel at 109 East Exchange Avenue, the Dallas Business Journal reported. The plans come two years after the venture acquired the hotel along with the nearby H3 Ranch restaurant and Booger Red’s Saloon.
The renovation, scheduled to start January and take about a year and a half, includes a complete interior demolition, upgrades to guest rooms, a new front canopy and enhancements to the exterior patio and public spaces.
Dallas-based Nunzio Marc DeSantis Architects will lead the design, hinting at a creative approach that pays homage to the hotel’s historic roots while modernizing its offerings.
The hotel has welcomed notable guests over the years, including infamous outlaws Bonnie Parker and Clyde Barrow, as well as country music icon Willie Nelson. Renovated and reopened in 1984 by entrepreneurs Marshall Young and Tom Yater, the hotel has played a pivotal role in the area’s cultural fabric.
In addition to the hotel renovation, Majestic Realty and its partners are spearheading a broader $1 billion expansion of the Stockyards, which aims to add 300,000 square feet of commercial space and at least 500 hotel keys and 295 multifamily units.
This follows the success of the project’s first phase, which cost $175 million and introduced popular establishments such as Shake Shack and Hotel Drover.
Roski, a major player in Los Angeles, is also behind several other projects throughout Texas, including an industrial development in San Marcos and Majestic business parks in Austin, Fort Worth and Kyle.
The Stockyards attract about 9 million visitors annually, a significant rise from 3 million in 2014.
— Andrew Terrell
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