BIG SPRING - The Settles Hotel project is much more than just restoring a landmark.
The project hopes to kick start downtown redevelopment.
"We really believe that this is the domino, if we can get it to fall, it will redevelop all of the downtown area," Kris Ryan with the Settles Hotel Development Company, said.
This is not the first time a plans been hatched to revamp the settles, but Economic Director Terry Wegmans hopes this time it will stick.
"Anytime you have this big of a project and people willing to invest that much money it creates excitement and hopefully it will bring other private investment," Wegman said.
The price tag is about 20 million dollars. The Settles Hotel Development Company will use public, private funding and tax credits to restore the first three floors to their original design.
"We are trying to restore is use all original materials," Ryan said.
Floors 4 through 15 will be converted into hotel suites.
"A luxury suite hotel room that you will not find anywhere else in the surrounding area," Ryan said.
The Development Team is searching the area looking for relics like one phone booth to put back into the hotel.
"We want Big Spring residents and others from surrounding towns to take be able to use the hotel, because in its early life it held all kinds of events," Ryan said.
Construction is expected to be completed in about 2 years when the doors will re-open once again to guests.
"A lot of baby boomers out there and they're drawn to nostalgia and maybe this will be a magnet for them to stay at the old hotel," Wegman said.