One of the Historic Core’s most notable buildings is getting an overhaul. Developer the Relevant Group will turn the Hotel Barclay at 103 W. Fourth St. into a 144-room, 4.5-star “luxury boutique hotel,” according to its website. The six-story Beaux Arts building was constructed in 1897, and most recently served as a 155-room single-room occupancy building serving low-income residents. Plans also call for converting the ground floor into a speakeasy bar.

According to a 2006 legal settlement, any units lost at the Barclay must be replaced; the developer plans to construct two new projects, one in Skid Row and another in Westlake, according to documents filed with the successor to the former Community Redevelopment Agency. The Delijani family, which owns four Broadway theaters, purchased the Hotel Barclay in 2018 for $21 million. The Relevant Group is also renovating and expanding South Park’s Morrison Hotel.

The developer anticipates finishing the project in 2021. No budget was disclosed.