### Historic Gunter Hotel Nears Reopening After $57M Renovation
The historic Gunter Hotel, originally built in 1909, is nearing its highly anticipated reopening following a $57 million renovation. Axle Capital Group, the firm leading the effort, began the extensive project in the summer of 2024. The renovation aims to elevate the hotel from Marriott International’s Sheraton brand to its high-end Tribute boutique line. The overhaul includes updates to every guest room, common area, and restaurant within the property.
The Historic and Design Review Commission recently voted to grant a historic tax certification to the landmark hotel, located at 205 E. Houston St. Under this designation, the property will be exempt from ad valorem taxes for five years after renovations are completed. Following this period, city regulations dictate that the building will be reappraised and taxed at 50% of its market value every five years. The project team is also pursuing state and federal rehabilitation tax credits to support the preservation effort.
An official reopening date has not yet been announced.
