The iconic Magnolia Building in Dallas, known for its famous flying red “Pegasus” sign, is undergoing a significant transformation. NewcrestImage, a hotel firm, has announced plans to renovate the historic 29-story building. The project will include upgrades to 270 rooms and the entire exterior of the building as well as adding a three-level east wing with amenities such as meeting space and an adjacent restaurant.
Gensler has been chosen to design the exterior renovations which have been approved by various organizations including the Dallas Landmarks Committee and Texas Historical Commission. The National Parks Service has also given their approval for this redevelopment project.
The expected cost of these renovations is $200 million and they are estimated to take about two years to complete. This will not be the first time that this landmark high-rise undergoes renovation; in 2022, repairs were made on its famous Pegasus sign at a cost of $360,000.
Overall, this exciting facelift promises to bring new life into one of Dallas’ most beloved buildings while preserving its historical significance.
