Dallas Stars owner’s Sandman Hotels Group plans to turn landmark Fort Worth high-rise into hotel
October 15,2019
See full Dallas News Morning News article by Steve Brown here.
A landmark Fort Worth skyscraper will be turned into a hotel by Dallas Stars owner Tom Gaglardi’s development company.
The nearly century-old W.T. Waggoner Building will be converted into a 240-room Sandman Signature Hotel by Gaglardi’s Northland Properties.
Northland has requested up to $8 million in public improvements from the city for the 20-story downtown office building, including landscaping, utility work and historical preservation.
“We’re thrilled that Northland Properties is committed to preserving such an iconic Fort Worth building,” Robert Sturns, director of economic development for the city, said in a statement. “This project celebrates Fort Worth’s past while still supporting the current and future growth of downtown, and we look forward to the Sandman Signature Hotel being part of our growing community.”
The Chicago-style brick and stone building was last renovated in 2003. The property was sold to Gaglardi’s firm this last summer by XTO Energy in a deal handled by commercial property firm JLL.
Gaglardi has been expanding his Sandman Hotel Group, Moxie’s Grill & Bar and Shark Club Sports Bar & Grill chains in North Texas. He opened its first U.S. hotel in Plano in late 2018 and plans two hotels on the south corner of State Highways 114 and 161 in Las Colinas in a 36-acre project planned by Blue Star Land LP, Dallas Cowboys owner Jerry Jones’ real estate company.
Gaglardi’s company operates more than 50 hotels in Canada under the Sandman and Sutton Place brands.
The W.T. Waggoner Building was built in 1920 for William Thomas Waggoner, owner of Waggoner Ranch, one of Texas’ largest properties when it sold in 2016. It was one of the tallest buildings in the southwestern U.S. at the time of its completion. Architecturally, it is known for its ornate entrance lobby. The high-rise is listed on the National Register of Historic Places.
“The historical relevance of the W.T. Waggoner Building makes this the perfect hotel asset for us,” Gaglardi said in a statement in August 2018 when he bought it. “We are excited to continue to expand throughout Texas, and we think Fort Worth is a fantastic market for us to grow into.”