Chip and Joanna Gaines Are Opening a Hotel Inside Historic Downtown Waco Building

Chip and Joanna Gaines are opening another destination in Texas. The home renovation superstars are opening a boutique hotel in downtown Waco, Texas. Even better? The couple is renovating a nearly 100-year-old building located just a few blocks away from their Magnolia Market at the Silos.

In the video below, the couple announces the project from inside the three-story hotel, which is nearly 53,000 square feet.

"We are, without a doubt, firm believers that home is the most important place on earth," Joanna Gaines wrote on her blog. "But we've also learned that home can be found beyond a physical dwelling. It encompasses more than the place where our mail is delivered. Home is a feeling, created by and for the people you love and share your life with; it's a state of being known and loved just as you are. That is our dream for this hotel--that it would serve as an extension of the way we feel about our own home and all it represents to us, and that every guest who comes to stay would experience that same sense of belonging and community."

Chip and Jo will begin renovations on the new hotel, which is set to open in 2021, this fall. The couple partnered with AJ Capital on the hotel, which was originally the Grand Karem Shrine building. According to the Waco Tribune-Herald, the hotel will include a rooftop terrace, a grand ballroom and a street-level cafe.

A press release states that the hotel will "evoke Joanna's affinity for timeless, classic details, while also preserving the building's rich history and highlighting its distinctive architectural features."

Read More: Chip and Joanna Gaines Donate $1.5 Million to St. Jude, Build Playhouse for Patients

This isn't the Gaines' first hospitality venture. The "Fixer Upper" couple opened a bed and breakfast in McGregor, Texas, the Magnolia House, in 2016.

Earlier this year, the couple purchased Texas' historic Cottonland Castle in Waco.

The new project is the latest in a long line for the Texans. The couple will launch a multiplatform media company in 2020. The company, a joint venture between HGTV's parent company Discovery Inc. and Chip and Joanna's home and lifestyle brand, Magnolia, will include a cable network and TV Everywhere app.

Now Watch: Things Joanna Gaines Loves to Say

recommended for you

Chip and Joanna Gaines Are Opening a Hotel Inside Historic Downtown Waco Building