The building became part of the Downtown Urban Renewal Area in 1993 and financing was provided for a $19.5 million renovation which would convert the building into the Holtze Executive Place extended stay hotel, owned by Steve Holtze. The renovation included removal of the concrete façade, restore the original façade, and renovate the building. The hotel opened in August 1995 with 246 hotel rooms, and retail space of 6,000 square feet.
