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Texas  + Dallas-Fort Worth  + Hospitality  | 
Dallas Magnolia Building getting $200M redo

Dallas’ Landmark Magnolia Building Set for $200M Facelift

Dallas’ landmark Magnolia Building, known for the iconic flying red “Pegasus” sign, is getting a significant makeover.

Hotel firm NewcrestImage plans to renovate the city’s historic building. The 29-story, 325-room hotel will get a new glass-entry canopy and upgrades to 270 rooms and the entire exterior. It will also get a three-level east wing with a street-level loading dock, kitchen, and meeting space, along with an adjacent restaurant. The renovations are expected to cost $200 million. Gensler designed exterior renovations.

The Dallas Landmarks Committee, Texas Historical Commission, and National Parks Service all approved the redevelopment project.

Renovations to the historic Dallas high-rise are expected to take about two years to complete. This will not be the first renovation of the historic building, however. In 2022, the Pegasus sign underwent a $360,000 repair to prevent it from toppling over.


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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development