The California-based developer behind the $240 million redevelopment of a long-vacated skyscraper at 1401 Elm St. in downtown Dallas has signed a luxury boutique hotel to the property.
Drever Capital Management announced Thursday the Thompson Hotels group "” the brand from Two Roads Hospitality "” will operate a boutique hotel as part of the redevelopment of the former First National Bank Building in the city's central business district.
"Bringing a Thompson hotel to the mixed-use development is going to deliver a hospitality experience that will complement the standards of top notch service and amenities offered throughout The Drever," said Frank Marro, president of Drever Capital Management, in a statement.
In all, the redevelopment of the tower will include the hotel, apartments, restaurants, spa, retail and office space and parking to serve the building.
Dallas-based Merriman/Anderson Architects is the project architect overseeing the redevelopment. CBRE and Lincoln Property Co. were recently hired to leasethe commercial real estate in the building.
The 216-room boutique hotel is slated to open in fall 2018. It will be called the Thompson Dallas hotel at The Drever.
Downtown Dallas Inc. President Kourtny Garrett said having a hotel located off the DART rail line that extends to Dallas/Fort Worth International Airport will be a coup for the city's central business district and the property.
The Thompson Dallas hotel, which will sit on floors 11-22, will also feature a 49th floor restaurant and a ninth floor amenity deck within the 50-story skyscraper.
The building "” once the tallest west of the Mississippi "” has been vacant for years as developers seek to revitalize the property.