Local Development Company Buys Plaza Hotel
El PASO — The Plaza Hotel, a downtown El Paso landmark since 1930, was sold on Friday to Mills Plaza Properties, a company controlled by Western Refining CEO Paul Foster. The hotel marks the fourth major building in the downtown area purchased by entities owned or controlled by the El Paso businessman, according to information in a news release.
According to the statement, Foster said, “I am very pleased that we were able to acquire the Plaza Hotel, and add it to the buildings we currently have in our downtown portfolio. This is an important El Paso landmark, with tremendous history and architectural significance.
“We hope to renovate and restore the Plaza so that El Pasoans will be proud to have it as part of a new and exciting downtown,” Foster said.
Foster owns or controls the Blue Flame Building, formerly the offices of El Paso Natural Gas Company; the Mills Building, and the Luther Building – all downtown landmarks.
Foster’s company, Mills Plaza Properties, also purchased several areas for parking, including the parking lot adjacent to Pioneer Plaza and the Plaza Hotel, the news release said.Mills Plaza Properties is developing these properties in conjunction with Plexxar Centre, owner of The Centre Building.
