The historic Gunter Hotel, built in 1909, is close to reopening after undergoing a $57 million renovation. The San Antonio Business Journal reports that Axle Capital Group, the firm leading the effort, started the project in the summer of 2024 to elevate the hotel from Marriott International’s Sheraton flag to its Tribute boutique line. The goal is to renovate every guest room, common area and restaurant in the hotel.

The Historic and Design Review Commission voted to give a historic tax certification to the storied hotel at 205 E. Houston St. Moving forward, the building will not be assessed for ad valorem taxes for five years after the renovations are done. According to city regulations, after that term, 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 rehab tax credits.

An exact opening date has yet to be revealed.