A peek into renovations at the historic Kress Building
EL PASO, Texas (KVIA) – Renovations of the historic Kress Building are still underway in Downtown El Paso, and ABC-7 will take a look at the progress made since first reported in 2022.
El Paso businessman and billionaire Paul Foster’s Franklin Mountain Investments bought the Kress Building in 2018 from Billy Abraham. The purchase added to Foster’s downtown real estate portfolio, including the restoration of the Plaza Hotel.
The building opened in 1938 as a local installment of the Kress Five and Dime department stores. Named after Samuel Henry Kress, the stores offered everything from birthday cakes to cosmetics at low prices.
Beyond its products, the Kress Building is known for its Art Deco architecture. Its website said it’s still a “mark of artistic excellence.”
Today, Franklin Mountain Investments is in charge of reimagining the building. ABC-7 previously reported the renovations have an estimated cost of more than $20 million. Foster provided $18.5 million, and the City of El Paso provided more than $2 million in incentives.
In a previous interview with Foster, ABC-7 learned some of the plans he has in store for the Kress Building. He aims to bring more people to Downtown El Paso.
Some proposed ideas included an underground tunnel to connect the basements of the Plaza Hotel and Kress Building. He also said there will be a spa, salon, food hall and an entertainment venue.
Representatives from Franklin Mountain Investments will guide ABC-7 through the ground floor to see the progress made since the deal was announced in 2022.
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