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.
During the tour, Franklin Mountain Investments said it will release an updated cost of the whole renovation.
Franklin Mountain Investments Chief Operating Officer William Kell guided the tour, along with the company’s Senior Vice President of Food and Beverage Robert Monarez. Monarez discussed plans for the nearly-complete first floor.
The first floor could open a food hall in time for Winterfest this November. The second and third floors are still under construction. Plans for the upper floors include a sports bar, viewing theater and an underground path connecting to the Plaza Hotel.
The crew discussed its focus on keeping things local while also adding to the experience of being in Downtown El Paso. Some food options include flavors from Mexico, Asia and Italy — all from local members.
Kell also mentioned plans for a coffee bar, a barbecue restaurant and a hand-mixed soda machine.
At the heart of the renovations, project leaders want to keep the signature Art Deco architecture.
Monarez said the project is personal to him. His grandparents shopped at the Kress Building, and he said his two aunts once worked there.
Come November, Monarez looks forward to sitting with his aunts at the counter and sharing hand-mixed sodas.
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