SAN ANGELO, TX — A former downtown hotel with deep roots in San Angelo’s history has been reborn as a new residential development. The Roosevelt Lofts, once known as the Rainbow Hotel and later the Roosevelt Hotel, officially reopened its doors Thursday with a grand opening and ribbon-cutting ceremony.
The event marked a major milestone in the revitalization of downtown San Angelo. City officials, community leaders, developers with Overland Property Group, and several dignitaries gathered on the steps of the newly renovated building to celebrate the transformation.
Former Mayor Brenda Gunter and Del Velasquez, the former Director of Downtown San Angelo, Inc., recalled the building’s past and shared how historic preservation plays a critical role in community identity.
“Historic preservation is important—like a family tree,” Gunter said. “People want to know about their family history, and in the same way, they want to see older buildings and learn about their past. These spaces carry stories, and those stories connect us to our community.”
Velasquez noted the building’s many changes over the years, saying, “This space has seen many transitions, but its purpose has always remained clear—to serve as downtown living. I’m glad to be here and see it happen.”
Monica Ramos, current Director of Downtown San Angelo, Inc., echoed that sentiment, calling downtown “a place where history and progress connect.”
The Roosevelt Lofts now features modern loft-style apartments while maintaining its original architectural integrity. Once a deteriorating property, the renovation has turned it into a symbol of adaptive reuse and urban reinvestment.
San Angelo Mayor Tom Thompson said the project reflects what’s possible for downtown San Angelo moving forward.
“This is the start, but we aren’t to the finish line yet,” Thompson said. “We hope this inspires even more developments to come.”
The Roosevelt Lofts project was led by Overland Property Group, a Kansas-based developer specializing in transforming underutilized and historic structures into vibrant residential spaces.
For more information about The Roosevelt Lofts or to schedule a tour, call (325) 242-9800.
A rendering of the Roosevelt Lofts project in downtown San Angelo showcases the planned architectural lighting and exterior renovations. The historic building, originally constructed in 1929, is being transformed into modern loft apartments as part of a $6.5 million redevelopment led by Overland Property Group. The project is set for completion in late summer 2025. (Courtesy: Roosevelt Lofts / Overland Property Group)
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