Bell Helicopter Expands at DFW; Stoneleigh to Become First Texas Luxe

By Camelia Bulea, Associate Editor

The Fort Worth City Council recently approved a tax abatement that will not only keep Bell Helicopter Textron in Fort Worth but has also approved the expansion of its headquarters and facilities in the area.

According to a city council news release, Bell will spend $235 million to expand its presence in Fort Worth. Additionally, the company will keep 4,500 employees in Fort Worth through 2020. The investment will be over four phases, which will include:

–    the construction of a new employee center;
–    the renovation of a facility housing repair and overhaul activities;
–    a relocation of its inventory to a central distribution center;
–    the construction of a new main headquarters and administration building and a new training academy.

The agreement stipulates that Bell must spend $1 million annually with Fort Worth companies, as well as spending $500,000 with Fort Worth-certified Minority/Women-Owned Business Enterprise companies, according to Citybizlist.com.

In other interesting real estate news, the famous Stoneleigh Hotel & Spa in Dallas was acquired by Luxe Hotels for conversion to a Luxe-branded hotel, as reported by Citybizlist.com.

The hotel will be renamed The Luxe Stoneleigh Dallas Hotel & Spa in the second quarter of 2012.  According to the buyer’s Web site, the original 1920s Art Deco design of this historic Dallas hotel has been meticulously preserved through a recent $36 million renovation. The property includes 170 guest rooms featuring luxurious electronic appliances and Calcutta marble flooring.

Image credits: www.facebook.com/stoneleighhotel