The 115-year-old hotel where Bonnie and Clyde once hid out will be part of a $500 million renovation of Fort Worth’s Stockyards entertainment district.
Stockyards Heritage Development, a joint venture between Majestic Realty and Fort Worth-based Hickman, will invest $500 million over the next five years to build out the 70 acres it owns in the 200-acre historic district, the Dallas Morning News reported.
The partners have already put more than $200 million into the Stockyards’ Mule Alley project and Hotel Drover opening, the outlet reported. The next phase of investment wil also include the Stockyards Hotel, H3 Ranch restaurant and Booger Red’s Saloon, the hotel bar.
“We are proud to take on this legacy property, a cornerstone of the district with its very prominent Main and Exchange location,” said Craig Cavileer, managing partner for Fort Worth Heritage Development. “The hotel and restaurant are now a part of our Stockyards holdings, which includes the Hyatt Place Hotel and award-winning Mule Alley and Hotel Drover.”
The partnership was formed to breathe new life into Fort Worth’s historic Stockyards entertainment district.
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The hotel was also once a packinghouse center and major horse and cattle market, and guests can reserve the room where the infamous bank robbers and lovers Bonnie and Clyde stayed in 1933. The walls are lined with memorabilia from the notorious outlaws, including a poem Bonnie wrote for Clyde.
The City of Fort Worth has pledged up to $26 million in tax breaks if the developers complete all three phases, which began in 2018 with the renovation of the horse and mule barns into a retail district with Hotel Drover as the centerpiece. The next two phases involve developing the surrounding land for retail, commercial, office and multifamily use.
“With our new Stockyards Hotel and H3 property, we look forward to honoring its rich history while working toward a refurbishment of the hotel over the next year,” said Kayla Wilkie, director of design and development for Majestic Realty Co. and Fort Worth Heritage Development Co.
[Dallas Morning News] — James Bell