A $175M Plan To Revive The Statler Hilton’s Storied Past
Mehrdad Moayedi is shopping around luxurious plans for a $175 million redevelopment of Dallas’ historic Statler Hilton that plays up its storied past.
The massive redevelopment plan will turn the vacant building into an entertainment destination, complete with a music venue harkening to the Statler Hilton’s roots, Centurion American Development Group President and CEO Moayedi told the Dallas Business Journal.
In its heyday, the Statler Hilton hosted luminaries like Elvis Presley and was the hotel where Tina Turner left her abusive husband, Ike, in 1976, with only 36 cents and a Mobil credit card.
“We’re going to bring back the original setup to the hotel, which includes skyboxes and a high ceiling in the ballroom, and make it a music venue,” Moayedi told me. “We will have about 14,500 square feet of space there that can hold about 800 to 1,000 people.”
The music venue would bring music-loving crowds to downtown Dallas and create vibrancy for the adjacent restaurant and retail strip, which is being marketed as the Statler Strip on the ground floor of the historic hotel, he said.
Plans for the redevelopment include 7,800 square feet of retail space, 19,000 square feet of restaurant space, a 2,200-square-foot hotel bar and 2,900 square feet of meeting space. Moayedi said he plans to add a high-end spa and four restaurants in the space. He declined to name the restaurants.
The Statler Hilton will also include a hotel amenity deck with a rooftop bar, a 60-foot long swimming pool, artificial turf and a movie screen.
The remainder of the property will include 229 apartments (11 floors of the building) and 164 hotel rooms (five floors of the building).
Built in 1956 as a flagship for the Statler Hilton chain, it has been closed since 2001. The National Trust for Historic Preservation included the Statler Hilton on its 2008 list of most endangered places, citing its importance in American mid-century design.
Moayedi recently purchased an adjacent building at 2026 Commerce St. to create a nightclub for hotel guests and residents to frequent. He also plans to redevelop the George-Dahl-designed building next to the historic hotel that once housed the Dallas Public Library. He also wants to expand his redevelopment vision to two nearby parking lots next to the Statler Hilton.
Dallas-based Merriman Associates Architects is the project architect for the redevelopment.
Moayedi also said he’s still trying to buy up properties around the Statler Hilton. Ultimately, he said he would like to redevelop the historic hotel into something his children can point to and say, “My father did this.”
The legacy project would remove more than 669,000 square feet of space from downtown’s vacant building inventory. The City of Dallas is giving Centurion $43.5 million in tax increment financing to help support the $175 million redevelopment.
The developer is applying for state and federal historic tax credits. Abatement work is underway at the Statler Hilton, with construction scheduled to start in early 2015. The anticipated completion date is late 2017.