A Dallas-area hotel developer plans to convert a century-old office building in downtown Fort Worth, Texas, into a Residence Inn by Marriott that's designed with suites and hotel rooms meant for longer stays.
Icon Lodging, based in Coppell, Texas, has filed plans with the state to begin construction on the 11-story, 101,390-square-foot historic building, called The Baker Building, at 110 W. Seventh St. in downtown Fort Worth in March. According to the work permit, the $33 million project is expected to cater to guests and visitors seeking an extended stay, with construction scheduled for completion in March 2025.
Icon Lodging did not respond to a request from CoStar News seeking additional information about the project.
The historic Fort Worth building originally was constructed as the home of First National Bank and built in 1910. Brokers who sold the building to Icon Lodging last year said it has its original brass doors, plus bronze and aluminum accents, throughout the property, which underwent a major renovation in 2005.
That architecture, history and location in downtown Fort Worth played a big role in the purchase of the historic property, brokers said when the building traded in March 2022. The building was last owned by XTO Energy.
The Fort Worth market has 2,730 hotel rooms in its construction pipeline, excluding this project, which has yet to begin, according to CoStar data. In all, this totals about 18 new hotels expected to be completed by 2026. Most of them are upper midscale hotels with three luxury-branded hotels in the mix, according to CoStar's analytics team.
The market is known for attracting visitors attending a Dallas Cowboys game at nearby AT&T Stadium or seeing the Texas Rangers play at Globe Life Field in Arlington, Texas, which is located between Dallas and Fort Worth. The Fort Worth market also is known for being a business travel hub that's near Dallas-Fort Worth International Airport, one of the nation's busiest airports.
For the Record
Bennett Partners of Fort Worth is the project designer, according to the state work permit.