DALLAS
Led by Dallas Mayor Mike Rawlings, HRI Properties will launch the LTV Building's $80 million conversion into downtown Dallas' first mixed-use hotel and residential complex.
The New Orleans-based HRI Properties recently completed the purchase of the historic building, which after its mixed-use conversion, will include a 171-room Hilton Garden Inn Hotel and 186 luxury apartments. Construction is scheduled to be completed by third quarter 2015.
While multi-use residential conversions are still relatively rare in the U.S. outside of New York City, this will be the sixth such development by HRI. The company has converted similar projects in New Orleans, Houston, Jackson, Miss. and Richmond, Va. Currently, HRI is also redeveloping the 225 Baronne Building in downtown New Orleans into a 188-room Aloft Hotel and 192 apartments.
The building, constructed in 1964, was known for many years as the LTV Building, headquarters of the former Ling-Temco-Vought company. The building's facade created the world's largest electronic signboard at the time. Thirty windows on each of the upper 25 floors were individually controlled and could be configured to shapes, letters and messages.
The 32-story LTV Building is within walking distance to major downtown office buildings and the DART light rail. Residents will have exclusive access to 206 parking spaces in the building on floors 2-4. The hotel will utilize 148 valet spaces in the basement of the LTV Building.
Architects for the project are HCI Architecture, Inc. and Merriman Associates/Architects, Inc. of Dallas. Interior design is by Looney & Associates. The general contractor is Andres Construction Services of Dallas.
Financing was provided through Capital One Bank and Fidelity Homestead Savings Bank, both in New Orleans. HRI Lodging, HRI's affiliated hotel management arm, will mange the Hilton Garden Inn Hotel, and HRI Management will manage the apartments.
The hotel amenities will include a first floor lobby with a restaurant/bar with outdoor seating. 2,000 square feet of meeting space will be constructed on the fifth floor, along with an outdoor pool deck and a fitness center for the hotel guests. Guest rooms will include all Hilton Garden Inn brand standard features including 42" flat panel TVs and in-room refrigerator.
The 186 apartment units will be located on floors 15 through 32 and feature condominium level finishes, washer and dryer appliances and stunning views of the Dallas skyline. Separate resident-only amenities include a fitness center, rooftop deck, and community space in addition to access to the public amenities of the hotel such as restaurant and bar space.
