On June 4, SLTX Capital plans to begin working to transform the century-old Scanlan building at 405 Main St. downtown into a 140-room hotel with an accompanying restaurant and bar. The hotel will be called Canopy by Hilton Houston Downtown. The project is expected to cost at least $12 million.
The Houston Business Journal reports SLTX Capital acquired the 96,699-square-foot property in December 2024 after the previous owners turned it over to the lender to stave off foreclosure. The building is in an opportunity zone, and it is eligible for state and federal tax credits.
SLTX Capital plans to complete the Scanlan building’s transformation next year.
The Scanlan building was built in 1909 by the family of Thomas Howe Scanlan, a two-time mayor of Houston. The 11-story property is believed to be the only office building in Houston that was designed by D.H. Burnham & Co. of Chicago, and it was built with a steel frame, which was unusual at the time.
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