HGC unveil its strategic partnership with Alterra International Group for the ambitious restoration of the historic Butler Brothers Building in Dallas. This ambitious project aims to transform the nine-story historical building into a vibrant mixed-use development, revitalizing the heart of the city.

Upon completion, the renovated Butler Brothers Building will feature a prestigious Marriott-branded twin-flagged hotel with 274 keys, offering unmatched hospitality experiences. The development will also include 9,400 square feet of dedicated restaurant and bar space, 20,000 square feet of retail space, 238 apartments, and a five-story parking garage, catering to the diverse needs of the community.

With a total investment of 88 million USD, the project has garnered significant support from stakeholders. The developer has invested 38 million USD, while HGC, alongside other limited partners, has contributed 50 million USD, demonstrating a shared commitment to the success of this transformative endeavor. Construction commenced in October 2014 and is projected to be completed by the end of 2016, promising a timely delivery of this remarkable development.

The Butler Brothers Building renovation has been awarded a Historic Tax Credit amounting to $35 million, acknowledging its historical significance and preservation efforts. Additionally, the City of Dallas will provide an additional $5 million in Tax Grants (TIF), further fueling the project's economic impact and success.

Alterra International Group, renowned for its integrated real estate development expertise, has been entrusted with the development of this prestigious project. With over 60 years of combined experience and a diverse portfolio of successful developments valued at more than $6 billion, Alterra brings unparalleled expertise and a global perspective to the Butler Brothers Building renovation.

In addition, lease management of the residential portion of the project will be handled by Pinnacle Realty Management. As one of the largest residential management companies in the United States, overseeing nearly 150,000 homes with a combined value exceeding $22 billion, Pinnacle Realty Management ensures the highest standards of service and quality for the residents of this extraordinary development.

HGC is proud to be a key player in the renovation of the Butler Brothers Building, marking another significant milestone in its commitment to transforming urban landscapes and creating vibrant communities. The collaboration with Alterra International Group and the expertise of Pinnacle Realty Management fortify the vision of delivering a truly exceptional mixed-use development that will enrich the Dallas skyline and contribute to the city's economic growth.