El Paso adds $1 million to fund historic La Popular renovation

EL PASO, Texas (KVIA) -- The Popular Dry Goods building in Downtown El Paso will soon get a makeover. The building, which once hosted a Fallas Paredes location, has been there for more than 100 years.

The El Paso City Council recently greenlit an additional $1 million in city funds to subsidize the sweeping transformation of the historic building. The council previously approved a $6.72 million incentive package.

While the project promises to inject much-needed life and housing into the heart of the city, the growing reliance on taxpayer dollars is drawing scrutiny from local residents.

The pushback centers on a simple question: Why is local government injecting massive public funds into a private redevelopment project?

Because the Popular Dry Goods building is cemented on the National Register of Historic Places, the construction guidelines are rigid.

Developers can't simply gut the building; they must restore and preserve its architectural integrity. This extra care raises construction costs and creates a financial gap developers claim they can't bridge alone.

Despite the financial friction, city officials and urban planners argued leaving the iconic building empty is more costly in the long run.

A proposed transformation would bring "moderately apartments" to the Downtown area, according to developers. It's completion date is set for 2028.

In May 2025, Grayce Property Consultants said the building was sold.