Chip and Joanna Gaines opening a hotel in Waco

“Fixer Upper” stars Chip and Joanna Gaines are taking on a new project – turning Waco’s old county office building into a boutique hotel.

The couple made the announcement Thursday morning on TODAY.

“Ya’ll... we’re gonna have a hotel in Downtown Waco, Texas,” Chip said.

Joanna’s blog on Magnolia.com explained the three-story hotel will be located just a few blocks away from Magnolia Market at the Silos.

“When we first toured the nearly one-hundred-year-old building—which is nearly 53,000 square feet!—we were amazed by the unique architecture and how much of it was still intact. Instantly, we knew we wanted to be a part of making this place sing again,” she wrote.

Once renovated, the hotel will feature a grand ballroom and a rooftop terrace, as well as a restaurant and café.

The couple said they are excited about the project because it “bridges what we are passionate about – home, hospitality, and restoration.”

“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,” Joanna wrote on her blog.

Renovations are set to begin this fall and the hotel is expected to open in 2021.