The Katy Building was constructed from 1912–1914 for Dallas businessman Col. John M. Simpson.

The seven-story, terra cotta and masonry building was designed by H. A. Overbeck in the Beaux-Arts/Historism style.

It featured fire proof construction, office spaces, and a power plant in the basement.

Although the MKT occupied most of the building as their headquarters, rental space was available for other businesses as well.

Workspace provider Novel Coworking purchased the Katy Building in 2014 and renovated the building's interior to provide private offices and co-working space for entrepreneurs and small businesses that need flexible, short-term workspace.