“It just calls you. You drive by and it beckons you,” he said. “You can tell that a renovation would have a huge impact on [Mineral Wells].
From my background in specialized real estate, I knew that there were some programs out there for buildings such as that and towns such as Mineral Wells. I think it’s almost like my responsibility, knowing that town as well as I do and knowing some of those programs that were out there that could help benefit that building, that I needed to take a stab at it.”
Fairchild is currently in the process of gathering investors for the project, having made many positive contacts with both individual and group investors so far. He has assembled a virtual dream team of project partners from the Dallas and Austin area who are dedicated to restoring the Baker to its original art-deco glory and making it a viable, money-making business again. Among this group is hotelier Jeff Trigger, a respected member of his field responsible for revitalizing other famous, historic hotels, such as the Driskill in Austin, the St. Anthony in San Antonio and Dallas’ Rosewood Mansion, the Adolphus and the Stoneleigh hotels.
This group has enjoyed marked success with projects like the Baker before and they are confident they can repeat that in Mineral Wells.
City Manager Lance Howerton is particularly optimistic about the project.
“From what I have seen, this has been the best progress that has been made on this project, to date,” he said. “We’re very encouraged at this point that there are some very substantial groups looking at the project. They appear to have significant levels of interest and that’s extremely encouraging. Typically the people that are looking at these types of projects don’t waste their time getting detailed information about a project unless they have a pretty good level of interest.”