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EL PASO, TEXAS — Paul Foster, the owner of the Plaza Hotel in El Paso, will invest approximately $78 million in renovations of the vacant property, which was built in 1930 and is a historic landmark. Foster’s team plans to convert the building into a boutique hotel with a minimum of 100 rooms, as well as 6,500 square feet of restaurant and bar space and 7,600 square feet of meeting space. Construction is expected to begin in early 2018.