That company may sound familiar because they previously purchased the LTV Tower at 1600 Pacific with intentions to renovate. The initial plan for Ricchi is to clean the building inside and out and make it ready for development. Even during the press conference, you can see stacks of various items and fixtures that have likely been there since the hotel closed over ten years ago. After all of the prep work is done, Ricchi will decide what is the best use for the building. No longer will the Statler look like an eyesore.
Personally, I'm ecstatic. For the first time since I moved here I have a positive answer for everyone that asks "What's going on with that building?" It's really a sign that Downtown Dallas is a desired place to be.
Mayor Caraway led the celebration. Also pictured (left-right) are John Crawford, CEO of Downtown Dallas Inc, and Leo Trevino, head of Ricchi Investments.
Here, Councilman and Mayoral Candidate Ron Natinsky is holding an original copy of Conrad Hilton's book. He is pictured (left-right) with Former Councilwoman Veletta Forsythe Lill, Crawford, Trevino, and Mayor Caraway. Councilman Natinsky helped to broker the deal with the seller and Ricchi by personally flying to Hong Kong to meet with the Statler's now-former owner. Former Councilwoman Lill was the main political force behind the Mercantile Place redevelopment and Main Street Garden.
This is yet another positive development in Downtown Dallas. There are several buildings being redeveloped and hundreds of more apartment units (many affordable) in the core of the City.