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Joint Effort in Pioneering the Statler Redevelopment Project by Centurion American's Collaborative Endeavor

June 02,2014

Centurion American joins forces for the visionary Statler Redevelopment project in Dallas. This transformative endeavor aims to revitalize the iconic 18-storey Statler Hilton property and the adjacent 3-storey Dallas Public Library, ushering in a dynamic mixed-use development that will redefine the city's landscape.

The Statler Redevelopment project will feature approximately 229 multi-family residential units, around 164 hotel rooms, approximately 234 underground parking spaces, 60,160 square feet of ground-level retail, restaurant, and entertainment venues, and 78,343 square feet of education, office, and event space in the former public library building. The Developer's proposal includes the creation of a green "Statler Strip" park, expanding the sidewalk to replace an entire lane of Commerce Street, enhancing the streetscape and creating a vibrant public space from Neiman Marcus to Cesar Chavez.

With a total investment of USD267 million, the project has received strong financial support. The developer has invested USD169 million, and HGC, along with other limited partners, has invested USD98 million. Construction commenced in June 2014 and is expected to be completed by the end of 2017, ensuring a timely delivery of this transformative development.

Centurion American, an established leader in community master planning and development since its founding in 1990, will spearhead the Statler Redevelopment project. With over 20 years of experience, Centurion American has successfully developed over 15,000 acres of land, including more than 10,000 upscale villas in North Texas.

Furthermore, the project benefits from the association with Hilton Worldwide, one of the world's most recognized hotel groups. Hilton Worldwide, ranked 38th by Forbes, operates 4,080 hotels in 84 countries, offering a total of over 672,000 rooms.

Being a part of the Statler Redevelopment project, HGC showcases its commitment to transformative real estate ventures and the revitalization of urban communities. The collaboration with Centurion American and the partnership with Hilton Worldwide reinforce HGC's vision of delivering an extraordinary mixed-use development that will redefine the Dallas skyline and contribute to the city's continued growth.

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