May's Investments renovates historic Amarillo hotel to offer new lofts
Thu, 18 Jul 2013 00:22:02 GMT —
May's Investments, a real-estate developer in Amarillo, is introducing their new apartment and retail space "The Lofts on 10th".
"Our family has been in business in Amarillo since the early 1940s. We remember downtown in the 20s and 30s for what it was, thriving," said Austin Sharp of May's Investments. "We ask ourselves what downtown is missing and we thought that Amarillo needs market rate housing. We really dug in and did a lot of market research and the consensus is, people want to live in downtown."
The structure off 10th St. was built in the 1930s and was known as the Blackstone Hotel.
"That was the old Blackstone Hotel. Now those old-fashioned hotel rooms above will be transformed into modern apartments where people want to live," said Center City Director Beth Duke.
May's said the high-end apartment complex will cater to those looking to live downtown.
"They're going to be nice, they're going to have high-end fixtures, we're going to have stainless appliances," said Sharp.
Apartments will take up the second floor and 2500 square feet of retail space will occupy the first floor. A faÃ§ade grant from the City of Amarillo and Center City will help the project with curb appeal.
"These faÃ§ade grants have been used to improve all kids of buildings downtown. It's a matching grant and it helps them go over and above to make their building more beautiful," said Duke.
May's Investments said while they hope the project will promote economic growth, Center City said it's excited that residents will get the downtown experience.
"They can walk to work, they can walk to a concert, all events at the Civic Center, High Noon on the Square, all the different things that go on downtown."