The long-awaited plans to redevelop the historic Baker Hotel remain on hold.
The huge structure still towers over the Mineral Wells skyline, attracting curiosity seekers, history buffs and those who illegally try to sneak in.
Southlake-based developers want to restore the 86-year-old hotel, in part using money from foreign investors, but are still awaiting pre-approval from the Department of Homeland Security’s EB-5 Immigrant Investor program. The developers applied for the program last September but have no idea how long it will take to get pre-approval, called “exemplar status.”
“We’re just waiting,” said Chad Patton, one of the partners in the project. “It could take up to a year to get exemplar status. It potentially could be awhile.”
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