The famous Pegasus sign sitting atop the downtown Magnolia Hotel is getting closer to falling off if it goes without repairs. The 15-ton sign is resting on a 90-year-old steel base, which has become so corroded that it could fall off the roof. Dallas News reports that the City Council approved nearly $358,000 to repair and stabilize the base, as well as replace missing neon lighting.
The recent wind storms make securing the sign a priority. NBC DFW reports the neon sign has become a Dallas landmark and the hotel is listed on the National Register of Historic Places. The 29-story building was the first skyscraper in Dallas in 1922. It was the original headquarters of the Magnolia Oil Company. The Pegasus was the company's logo, leading to the neon sign added to the top of the building in 1934.
In 1999, the skyscraper opened as a hotel and the sign was briefly taken down to be repaired and restored to its original glory. The city originally owned the building but it was sold, but still had an easement to continue owning the rooftop sign. Local investment group NewcrestImage purchased the hotel in 2021.
Dallas City Council approved the repair work after spending an hour and a half of debate, who disagreed over delaying the vote to get the hotel owners to foot part of the bill. Dallas News reports that the city attorney's office said that Dallas did not ensure that future owners help with sign repairs. Nobody has said how long the sign and structure will stay put before falling off the building.