714 Main/Farmers & Mechanics National Bank/Kimpton Hotel

I was curious about the claim that 714 was the tallest building in Texas when it opened. Most places list the Adolphus hotel at 311 or 312 feet, and it opened in 1912, where 714 Main is listed as 307 feet and opened  9 years after the Adolphus, meaning 714 never would've been the tallest. I asked John if he knew anything about this and if the listing on the website was maybe a mistake. He checked the 1922 Sanborn map of Dallas, which listed the Adolphus as only 220 feet. I then went and checked the heights of the modeled buildings in Google Earth and it came much closer to the 220 height mark and was nowhere near 312 feet. This is also obvious when viewing the 327-foot building adjacent to the adolphus, which is clearly much taller. There is no way the Adolphus is anywhere near 300 feet tall. The wrong height for the Adolphus is listed in several places, including Emporis, Wikipedia, and Skyscraperpage. I've not figured out where the 312-foot number came from. 

This does mean that 714 was certainly the tallest in Texas at the time of its completion. Interestingly, I believe 714 Main was also taller than anything in Chicago at the time, an impressive feat for little ol' Fort Worth! This Hometown by Handlebar post also lists it as the tallest in the Southwest, which I guess depends on your definition of Southwest, it was taller than anything in Los Angeles, but Oakland's city hall is taller, as is the Hibernia National Bank building in New Orleans.

714's reign of tallest was officially taken by Dallas in 1923 when the 430 foot Magnolia Hotel opened. 

Adding to this thought, along the accessible ramp connecting the hotel lobby to the elevator lobby, inside the Magnolia Hotel, there is an architectural drawing of the building's elevation.  This drawing is dimensioned and from finish floor to the top of the building, the number is 400 feet, not 430.  Therefore, this building's height is probably incorrect, as well.

Sounding like 714 will go hotel as well. Unknown yet who the buyer is though.

Sounding like 714 will go hotel as well. Unknown yet who the buyer is though.

 Great news; very glad to have another chunk of Class B commercial office space off the table.

 

Sounding like 714 will go hotel as well. Unknown yet who the buyer is though.

 

 Great news; very glad to have another chunk of Class B commercial office space off the table.

 

We desperately need more office space in this city, not less.

I think he is just saying that by taking away the possibility of a glut of lower-class office space, there will be demand to construct newer space for good employers.

Here's more details. Will be 220+ rooms, include streetscape improvments, penthouse bar.

http://www.fortworth...27b4c5f8d0.html

The flag would be Kimpton

https://en.m.wikiped...s_&_Restaurants

Also worth noting -  the images from the presentation were John's,

Not only were the images mine, most of the text from the Business Press article was pulled from my building listing, as well. I see the City of Fort Worth gave me credit.

I'm also wondering how they plan to make the lobby an impressive space.  The old three story bank lobby was infilled with floors back in 1960, and XTO chose to utilize that space, instead of removing it and restoring the bank lobby.

First and foremost, having ownership of 65 hotel properties suggests that this is a serious proposal with detailed information and promises from the developer and one that the Council should ratify unanimously. 

Fort Worth would be the second city in Texas to have a Kimpton Hotel Group (KHG)  property, the other being their Austin Van Zandt Hotel; the VZH caught my attention recently while in Austin as the name Van Zandt rang a bell with me.

Besides Fort Worth beginning to be looked at more closely for its hospitality potential (Fort Worth Stockyards, Dickie Arena), KHG likes that 714 Main is just three blocks (walk/drive) from the DFW Airport Train (Tarrant Express Rail). Another thing that may have caught the attention of KHG and something that it probably likes about 714 Main is how it channels their Hotel Monaco, Salt Lake City and their Hotel Ink48 in New York City.  Seeing the Salt Lake City hotel, I think you will see that the similarity between its lobby at street and 714 Main; or the upper levels of Ink48 to the upper levels of 714 Main.

Monaco Hotel, Salt Lake City                       Ink48 Hotel, New York City

       714 Main Street

Developments like Sinclair, Waggoner make me question why the Petroleum Tower is not being converted into hospitality or residential use. It also makes it less likely that a brand new boutique hotel on the Monnig's Block is still as likely as it was earlier because the demands for boutique hotels are being quickly fulfilled (Hooray); and  this leads me to believe that eventually a high rise tower of some significance will be built on the Monnig's Block.

I hope that not only on 10/30/18 will KHG get approved; I hope that a name of the new hotel will be revealed.   An added benefit, this hotel brand places the name of Fort Worth in the accompany of the A-list of American cities.

Approve...Approve...Approve!

 

 

Sounding like 714 will go hotel as well. Unknown yet who the buyer is though.

 

 Great news; very glad to have another chunk of Class B commercial office space off the table.

 

 

We desperately need more office space in this city, not less.

 

PAS is right. 

Taking small floor plate Class B space off the market would not directly cause rates in Class A space to rise, which is what is needed to support new Class A development. 

Sure, eliminating ANY supply will theoretically shift the equilibrium point upward (rates rise) but in practice the market for smaller Class B office spaces is not very closely related to the market for larger block Class A spaces (which is required to pre-lease proposed buildings). 

Additionally, it is actually good for cities to have a diverse mix of high end space and lower cost space, to accommodate a diverse population of companies.   Jane Jacobs wrote about this in Death and Life of Great American Cities - how the availability of affordable apartments and commercial spaces is essential for a diverse population of people and companies (today that is start-ups, non-profits, and other small businesses. ) 

If you own a competing Class B office building downtown, you're glad to see less competition, so you can probably look forward to stronger absorption, less pressure from competition, and greater ability to increase rates a little. 

I would guess the reason Sundance is planning to keep the Petroleum Building as office is along the lines of what I wrote above - they probably recognize the need for more affordable office spaces in addition to their higher end spaces. 

For the record, I think this will be a very nice hotel.

I'm just disappointed it will come at the expense of office space.

For the record, I think this will be a very nice hotel.

 

 

I'm just disappointed it will come at the expense of office space.

The way I see it... opens up space for a NEW office tower. 

I hope this does not affect plans for new high-rise hotel construction downtown.

It probably won't because the need is for another large convention center hotel.  These renovated office buildings that are being converted to boutique hotels help to remedy the overall shortage of rooms, but they don't fill the need for another hotel with big ballrooms and meeting spaces that are either attached to the Convention Center, or they are across the street.  The Fairfield Inn and the Hampton Inn & Suites don't meet the requirements of a convention center hotel because they are too small and they don't offer the big meeting spaces.

So, in attempting to follow this sale, the purchaser is Memphis-based Development Service Group, Inc., who will develop the property and the hotel group will be San Francisco-based Kimpton Hotels Group who will operate the hotel; and is this how deals work, correct?

http://apps.fortwort...date=10/30/2018

http://dsginc.net/aboutdsg

So, in attempting to follow this sale, the purchaser is Memphis-based Development Service Group, Inc., who will develop the property and the hotel group will be San Francisco-based Kimpton Hotels Group who will operate the hotel; and is this how deals work, correct?

 

http://apps.fortwort...date=10/30/2018

 

 

http://dsginc.net/aboutdsg

Yes. Typically the ownership group is separate from the operating group. 

Yes. Typically the ownership group is separate from the operating group. 

 

 Thanks.  The Tennessee angle caught me by surprise as I only focused on the San Francisco angle.   I will admit, that when the news broke about 714 Main, my attention was squarely on my impression of Kimpton Hotel Group and did not think about how this is to be developed.  Development is not as glamorous as five star hotel groups.

Great news since we are on our way!

This is great news for the this building as DGS has an incredible reputation for historic buildings. I am a bit surprised they are looking at a Kimpton Flag but then downtown is getting pretty full on Marriott and Hiltons.

In answer to Renames question and to expand on CodyC's comment, typically if a Developer/owner is a long term owner, they usually manage it themselves as it is MUCH more cost effective. To be able to self manage though you have to get approved and show the brand you know what your doing,. If your an owner that basically builds, gets it stabilized and flips to a REIT or sells it, which is more what DSG does, then typically they are using a management company as there is less incentive to deal with having all the employees and such. Out of about 8 clients we build hotels for, we only have one that uses outside management. 

This is great news for the this building as DGS has an incredible reputation for historic buildings. I am a bit surprised they are looking at a Kimpton Flag but then downtown is getting pretty full on Marriott and Hiltons.

 Thanks for expanding to us how it works.  Here is the FWBP news story citing both Developer Services Group and Kimpton Hotel Group.  I suspect that they have partner together in the past and from a cursory view, one would be impressed by the excellent hotel properties they produce by redeveloping historic buildings.

http://www.fortworth...27b4c5f8d0.html

This is going to be an interesting project, since the bank lobby floors were filled in years ago.  I doubt the architects will try to restore the lobby.  With a relatively low ceiling height, the lobby will have to rely on nice finishes, rather than an architecturally dramatic interior.

This is going to be an interesting project, since the bank lobby floors were filled in years ago.  I doubt the architects will try to restore the lobby.  With a relatively low ceiling height, the lobby will have to rely on nice finishes, rather than an architecturally dramatic interior.

 This Salt Lake City Hotel (DSG+Kimpton) looks very similar to 714 Main, lobby and all.

The one here, will probably be similar on the interior.  The Hotel Monaco (Kimpton) in Salt Lake City appears to not have a multi-story lobby, like the Farmers & Mechanics National Bank originally had here.  What makes their interior nice are the finishes and the decorative treatments on the ceiling. 

The building is designated at the highest level for a local landmark.  It is designated as a Highly Significant Endangered City of Fort Worth Landmark.  It is also listed on the National Register of Historic Places.  It does not have a landmark designation with the Texas Historical Commission.

You have been in 714 Main, haven't you?  Do you have photos of the multstory lobby?  Would 714 Main be similar to Hilton Fort Worth (Hotel Texas)?

I have been in 714 Main.  In order to answer your question about the lobby, you should be very specific.  Do you mean current photos, or historic ones?  The current layout does not have a lobby similar to the old Hotel Texas.  In that lobby, they removed the infilled mezzanine level to reveal, as closely as possible, the original two story space of the lobby.  Unfortunately, all of the original finishes had been removed, so they could only represent the "space" that was created.  The old light well in the hotel was partially enclosed for a modern atrium, and 714 Main does not have a space like that. 

I actually don't have enough knowledge about 714 Main to form a question.  Your stipulation that "This is going to be an interesting project, since the bank lobby floors were filled in years ago" has drawn my attention and has me wanting to know more/why?  But from the following, I can see that it will be an interesting attempt to meet the requirements set out by the City.  I hope that you will have an opportunity to have first hand look during construction and share what you learn with The Forum.

Here pasted is the Discussion before Council prior to Approval -

Development Services Group, Inc., or an affiliate (Developer) intends to convert the existing 190,000 square foot office tower located at 714 Main St. into a 232 room four star hotel. The hotel will contain approximately 10,000 square feet of meeting space, including a main ballroom, conference, boardroom space. The hotel will also include an approximate 3,100 square foot full service restaurant and a 3,100 square foot penthouse bar that can also be available for private events.  Total investment will be at least $56 million, not including land acquisition, of which at least $36 million will be hard construction costs.

In order to facilitate this development, the City of Fort Worth (City) proposes to provide 10 annual Economic Development Program grants to the Developer, as authorized by Chapter 380, Texas Local Government Code.  The grants will be tied to the amount of investment made by the Developer and satisfaction of other project and spending requirements, as follows:

Investment:
Failure to meet the following criteria is an event of default, which subject to commercially reasonable notice and cure rights, will result in immediate termination of the Agreement.

- Minimum investment of $56 million in total development costs (exclusive of land acquisition costs).  
  Of this, a minimum $36 million shall be hard construction costs;

- Minimum 220 key hotel;

- Must contain 10,000 square feet of meeting space, including a main ballroom and conference rooms;

- Must be completed by June 30, 2021;

- Must operate at Kimpton brand standards at all times or operate and be marketed in a manner that is consistent with the standards for a Four Star Hotel as defined by Forbes Travel Guide;

The one here, will probably be similar on the interior.  The Hotel Monaco (Kimpton) in Salt Lake City appears to not have a multi-story lobby, like the Farmers & Mechanics National Bank originally had here.  What makes their interior nice are the finishes and the decorative treatments on the ceiling. 

I have stayed at this hotel several times--while it is nice hotel, I wouldn't call what they did to the interior anything spectacular or note worthy.  

What stood out the first time I stayed there was the bar area.  It had a curtain that they used to hide the bar from the restaurant under some Utah law that has since been rescinded.  SLC is one of the weirdest places on earth IMHO, lots of cameras everywhere like a police state.

For the record, I have not stayed at this hotel in SLC.  I will agree that from the pictures, nothing is incredibly noteworthy.  However, they did put some color into the lobby and the changes in ceiling height add some interest to the otherwise flat ceiling.  My point about 714 Main is that with the mezzanine floors extended across the formerly open lobby, There won't be any opportunities for the "grand lobby" space.  It will probably remain one story instead of 2 or 3 stories, like it was when the building was built.  I'm actually not sure how the original lobby was configured.  From the exterior, it appears it was three stories.  There are photographs from the 1940's and 1950's at the UTA Library Digital Galleries, but at that time, it looks as if the lobby was only two stories.  I'm just not real sure if some infilling of floors and remodeling had already been done by that time. 

The lower floor(s) will be a crowded space with requirements of a ballroom, a 3.1k sf restaurant and 10k sf of meeting space; and this does not include the needs of a main lobby. 

As has been suggested, it will be an interesting redevelopment project for watching.

The lower floor(s) will be a crowded space with requirements of a ballroom, a 3.1k sf restaurant and 10k sf of meeting space; and this does not include the needs of a main lobby. 

 

As has been suggested, it will be an interesting redevelopment project for watching.

But nothing says you have to put the meeting space and restaurant on the first floor. Could do the restaurant on the top floor or even basement and cold do the meeting rooms on second as examples. This is what I would totally expect, possibly restaurant on first but definitely don't think meeting space will be on first floor. 

Some details from TDLR. Completion date is set at 8/20/20. Bennett Benner Partners are the architect.

https://www.tdlr.tex.../TABS2019008240

 Bennett Benner Partners are the architect and DSG Developers...in good hands; this will undoubtedly happen.

http://dsginc.net/portfolio

I've stayed in their Marriott Courtyard in Killeen a couple of times.  That was a nice hotel before it was remodeled.

The name of Le Meridien already exists at two or more hospitality projects in North Texas; and Marriott Courtyard Blackstone is two blocks away.  What would be a fitting name for the hotel?

What about a "Worth Hotel Fort Worth?"

The project was filed with the TDLR on March 29th and the estimated start date is around the first of June with completion in late August 2020.

The name of Le Meridien already exists at two or more hospitality projects in North Texas; and Marriott Courtyard Blackstone is two blocks away.  What would be a fitting name for the hotel?

 

What about a "Worth Hotel Fort Worth?"

With a nod towards the stone heads on the facade, how about "Centurion Hotel Fort Worth"...?

I thought it was going to be branded under the Kimpton name and it would simply be the Kimpton Fort Worth Hotel.

I thought it was going to be branded under the Kimpton name and it would simply be the Kimpton Fort Worth Hotel.

Most likely.

Somewhere, not finding exactly where, but the name Le Meridan was name dropped.  I would prefer that it not be called Le Meridian, but that is an opinion.

I like the suggestion of Centurion (Post#189) or something more local in a combination with Kimpton.

I thought it was going to be branded under the Kimpton name and it would simply be the Kimpton Fort Worth Hotel.

In the most recent Hunden Partners convention center study was this little list ...
 

 
 

I looked back to posts #184 & #185.

In #184, DSG is stipulated as the owner; BB&P as the architectural firm.  It could be Kimpton or it could be another of DSG branded properties, Le Meridian (#185).

Not a big deal, however, I do hope that it stays away from "Le Meridien" as it is being used in Dallas and Houston.

To repeat, I would prefer a Fort Worth cultural name to tie in with our history.

 I've not figured out where the 312-foot number came from. 

I think I might have found out why the Adolphus is sometimes listed at 312 feet. In about 1926 an addition was made to the Adolphus, the third and tallest tower. Perhaps it is 312 feet.

https://dallascityha...sion 2 2015.pdf

There are actually 4 towers in the Adolphus Hotel Complex, plus the Adolphus Tower office building at the corner of Main & Akard.  From the Sanborn Maps, it appears the third tower is 264 feet tall.  However, it is very difficult to read, and the numbers are blurred.  The 4th tower, built in 1951 and designed by Wyatt C. Hedrick is 255 feet in height.  The Adolphus Tower (1954), also designed by Hedrick is 327 feet, and it is the tallest building on the block.  It is significantly taller than any part of the hotel.  I think the 311 feet is an erroneous height.

Financing nailed!

Fort Worth Business Press -

http://www.fortworth...rticle-nav-next

It's good that they have the financing.  Did you all notice that the Business Press article used a large part of my building description from Architecture in Fort Worth?

Yes, I did.  You have become quite the authority on the topic of Fort Worth's architecture.  Three Big Cheers!