Downtown Redevelopment in the Forefront
Tuesday, July 1, 2014
Mineral Wells Index
By TYLER MASK
As of late, the hot issue downtown has been the Baker Hotel, and things are continually looking up for the 14-story giant at this point.
But what about the downtown area in general? What will happen if the Baker comes back and the downtown drag is a drag? The Mineral Wells City Council is set to discuss this topic at tonight’s meeting at 6 p.m. The public, as always, is welcome.
“Successful completion of the Baker project is going to have a tremendous impact on the downtown area,” Mineral Wells City Manager Lance Howerton said.
Read the full story: http://www.mineralwellsindex.com/news/local_news/downtown-redevelopment-in-the-forefront/article_d13dd5c5-24d7-5059-9102-b739bd36414f.html
What's Old Is New Again - Restoration Plan
June 1, 2014
Fort Worth Texas Magazine
Patton said the Baker building will not look much different than it was, but there will be some changes:
- The pool and the fountain will likely remain, Patton said.
- Instead of 450 rooms, it will scale down to 155.
- The street-level floor will have about 11,000 square feet of retail space and a diner and coffee shop seating about 80 people. This is where the kitchen is currently located.
- The main kitchen will be moved to the lobby floor, where the serving will be done.
- The Brazos Room will serve as a prefunction space next to the 15,000-square-foot ballroom.
- The lobby will be brought back to its original glory.
- Patton said that they want to bring the Rose Room back, and they plan to remove several faux walls to open up that space.
- The kitchen will be in the back, close to the banquet room.
- Floors three through nine will be downsizing from 40 small rooms to 21 larger rooms of about 450 square feet. The standard room will be junior suite size.
- The porte-cochere area on the lobby floor will be separate from the rest of the floor and used as an extension of the upstairs spa.
- The mezzanine level will be used as a check-in area.
- Plans include restoring the Presidential Suite on the 10th floor.
- The Baker Suite will be restored on the 11th floor. Meeting rooms will be on the same floor with a set of stairs that lead to the Cloud Room. The plan is to open up one area of that room.
- The current gymnasium space will become a meeting space with breakout rooms and a small kitchen in the back.
- The women's and men's area spas will be separate. A fitness area will be added. The spa will be about 14,000 square feet.
- Meeting and conference space will be about 20,000 square feet.
What is EB-5 and how does it work?
May 18, 2014
Mineral Wells Index
By TODD GLASSCOCK
Foreign Investment Component Key Part of Baker Hotel Project
Before workers in hardhats hammer nail into or climb any scaffolding around the Baker Hotel, the restoration team taking on the project will first have to pull together the final touches on financing.
A primary source of this financing will come from EB-5 investors, said Laird Fairchild, a managing member of the Baker Restoration Team.
"EB-5 is a program that the State Department runs," he said, "and what is does is it basically 'incentivizes' wealthy foreigners to invest in job creating projects and investments in the United States. So, they invest a million dollars and they and their families – their immediate family members – will get a lifetime visa if they invest in a qualifying project."
Read the full story: http://www.mineralwellsindex.com/topstory/x611378514/What-is-EB-5-and-how-does-it-work
The Baker Boys
May 27, 2014
By Christina Mlynski
These weekend warriors are on a mission to restore hope.
In a town of 17,000 people, there's no way you can miss it. Descending into Mineral Wells, it soars high at 14 stories tall, as the forest green hills add a fitting backdrop to its rustic elegance. While its exterior is tattered and hundreds of rooms have remained vacant for more than 40 years, the Baker Hotel is far from over.
"You can't miss the Baker," says Hunter Chase Capital Partners senior managing director Laird Fairchild. "You can see it from miles away, and anybody who drives through Mineral Wells for the first time, it peaks their interest. You feel that it's still the lifeline to this town."
It's a love story that began 13 years ago for Fairchild and his partner/ financial advisor Chad Patton who saw an opportunity to breathe life and restore a piece of history located in Palo Pinto County. Taking an opportunity to use his father's hunting lease, these weekend warriors have made Mineral Wells their home away from Southlake.
Read the full story: http://southlakestyle.com/2014/05/27/41813/the-baker-boys
Baker Team Duo: Drawing on Old Dreams
June 15, 2014
Mineral Wells Index
By TYLER MASK
Thiels excited about their work on the Baker project.
When pen meets paper, dreams become reality.
While the Baker Hotel was imagined more than 80 years ago, two modern artists are putting their spin on the old dream that is poised to come back to life.
Owners of Thiel and Thiel and partners in the Baker Restoration Team, interior designer Beth Thiel and architect Kurt Thiel have already made their mark on Mineral Wells, and it's about to become permanent as the Baker Hotel prepares for its long overdue facelift.
If you have been to nearly any meeting in town regarding the Baker restoration project prior to the 4B sales tax election in May, then you have already seen the Thiels' work as they are the firm that drafted the floor plans for the project, which are on display at Jitter Beans Roasting Company.
Read the full story: http://www.mineralwellsindex.com/topstory/x1396889884/BAKER-TEAM-DUO-Drawing-on-old-dreams