A newer plan converted the building into lofts for sale and construction of a new low-rise apartment building to the east of the tower. The lofts opened in July of 2006. Commuter rail service started on December 3, 2001, serving as the western terminus of the Trinity Railway Express.
The Texas & Pacific Railroad merged with Missouri Pacific in 1963, and Mopac has long since been gobbled up by Union Pacific.
The station closed in 1967, when rail passenger service was taken over by Amtrak and relocated to a smaller station a few blocks away. Since then, the building has housed federal office space on the upper floors, but the lower levels have been mostly vacant.
Construction will cost about $50 million, and the developers are working on a public-private sector financing plan. Compared with building a new full-service hotel, the conversion of the historic railroad building is a bargain.