Thursday, July 31, 2014

New garage, brand name in works for downtown Dallas’ historic Hotel Lawrence

Owners of a downtown Dallas hotel are buying an adjoining parking garage and plan to rebrand the property.
The 10-story Hotel Lawrence on Houston Street was purchased last summer by an investment company owned by hotel operator Mehul Patel.
Back then the new owners announced plans to remodel the 89-year-old hotel, which is located across from Union Station.
Real estate brokers say that the hotel investors are now buying an adjoining parking garage at Jackson and Record streets, which has been used for courthouse parking.
The garage has recently been marketed for sale by broker Newt Walker.
The Hotel Lawrence owners plan to refurbish the garage and convert the hotel to a La Quinta flagged property, downtown property agents say.
The Lawrence has been renovated multiple times over the decades and has had several name changes.

The current owners have more than two dozen Dallas-area hospitability properties.

By Steve Brown- Dallas News