(Fort Worth, TX) —  Dallas Stars owner Tom Gaglardi is planning to re-develop the historic WT Waggoner Building on Houston Street in downtown Fort Worth.

The city says Gaglardi’s Northland Properties is looking to turn the 1921 skyscraper into a hotel.  Northland Properties is hoping to get economic incentives from the City of Fort Worth.

The building, originally built by the owner of the Waggoner Ranch, William Thomas Waggoner, was last renovated 16 years ago and previously owned by XTO Energy.