Wednesday, August 21, 2013

Downtown Dallas' Hotel Lawrence Sells to Local Investor

An historic downtown Dallas hotel has a new owner that plans to redo the property.
The 10-story Hotel Lawrence on Houston Street was purchased by an investment company owned by hotel operator Mehul Patel.
Built in 1925, the 120-room hotel is across the street from Dallas’ landmark Union Station and the George Allen Sr. Courts Buildings.
The new owners plans to renovate the 10-story building which has a restaurant and lounge on the ground floor.
“We saw a great opportunity and could not pass up the chance to acquire a historic landmark hotel,” Patel said in a statement. “We are excited about the restoration of the hotel and look forward to bringing back vibrancy to the building.”
Patel already owns more than two dozen Dallas-area hospitability properties.Patel said Tuesday that construction will start in the fourth quarter.
Author: Steve Brown