[3] In 1929 Texas oilman and civic booster Richard Otto Dulaney announced plans for the construction of a million-dollar, modern structure to provide office space for the ever-expanding petroleum business.

Designed by noted Fort Worth architect Wiley G. Clarkson, the building was meant to give the "impression of extreme verticality intended by the dark green spandrels sweeping upward" and employed Meso-American architectural motifs that had gained popularity throughout the United States in the 1920s.

However, rising rental costs outside of the city center and concentrated efforts to revitalize downtown created a renewed interest in the tower, with the Reaut Corporation purchasing the property in September 1988.

[9] The renovation, done by Forrest Perkins and Merriman Architects, focused on retaining the building's Art Deco style while making the former oil company headquarters environmentally efficient.

Keeping with the building's tradition of debuting cutting-edge technology, the renovated tower is the first hotel to have its interior electrical amenities, including lights, window shades and minibars powered exclusively over Ethernet (POE).