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Historic Katy Structure in Dallas Up for Acquisition: A Prime Hotel Conversion Opportunity – Image Credit HVS
The Katy Structure, a historic Beaux-Arts architectural gem located at 701 Commerce Street in Dallas, is being presented by HVS Brokerage & Advisory for acquisition. The home, which has an abundant history and a prime location in Dallas’s West End Historic District, offers tremendous potential for redevelopment into a hotel.
The Katy Building, a historic home in Dallas’s West End Historic District, is up for acquisition. Developed in between 1912 and 1914 for Dallas business person Colonel John M. Simpson, it functioned as the head office for the Missouri-Kansas-Texas (MKT) railway for over 50 years. The building’s architectural beauty, versatile design, and prime location make it an ideal prospect for redevelopment into a hotel.
Property History:
H.A. Overbeck developed the Katy Building in the Beaux-Arts architectural style. For many years, the structure has undergone considerable renovations while preserving its historic character. It functioned as the headquarters for the MKT railroad, making the label “The Katy.” The present ownership got the residential or commercial property in 2014 and has actually meticulously preserved its historical character.
Redevelopment Opportunities:
The residential or commercial property uses enormous redevelopment potential, with its flexible style and zoning making it ideal for various hotel principles. Developers might explore high-end, way of life, upscale, store, or micro-hotel designs. The structure’s roomy floors are well-suited for numerous centers, including conference spaces, guestrooms, dining establishments, bars, fitness rooms, and retail outlets.
Tax Incentives:
The home’s historical significance presents a chance to take advantage of both federal and state historical tax credits. These rewards can substantially balance out redevelopment costs, improve financial feasibility, and increase financier yield.
Lease Structure and Activation Possible:
The home’s existing lease structure offers a smooth shift for redevelopment. A lot of renters are on short-term leases, permitting easy vacancy. The previous restaurant renter received city approval to convert the metered parking in front of the structure into an outside seating area, providing distinct potential for adaptive reuse.
Downtown Dallas Hotel Market:
Downtown Dallas continues to show strong accommodations demand, supported by corporate existence, tourism, and convention activity. The area draws in millions of visitors yearly, sustaining high occupancy levels and supporting the requirement for premium lodging choices.
West End Historic District:
The property is in the lively West End Historic District, a prime metropolitan setting for organization and leisure travelers. Major companies in the area drive consistent business-travel demand, and the district also draws countless visitors annually to its renowned websites.
Kay Bailey Hutchison Convention Center Dallas:
The Kay Bailey Hutchison Convention Center Dallas (KBHCCD) contributes substantially to tourist, task production, and business activity in the city. Beginning in Q1 2029, the organized expansion of KBHCCD is expected to create $1 billion in financial impact from booked conventions.
Dallas– Fort Worth Metroplex:
The Dallas– Fort Worth Metroplex continues to solidify its credibility as one of the most desired corporate destinations in the nation. The area consistently ranks amongst the leading markets for new and expanded business facilities.
Inquire at HVS.