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Chip and Joanna Gaines opening hotel in Texas

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Joanna Gaines, Chip Gaines_148084

In this March 29, 2016 photo, Joanna Gaines, left, and Chip Gaines pose for a portrait in New York to promote their home improvement show, “Fixer Upper,” on HGTV. (Photo by Brian Ach/Invision/AP)

WACO, Texas — America’s favorite home improvement couple is taking on a new project.

Chip and Joanna Gaines, the stars of HGTV’s hit show Fixer Upper, announced on Thursday that they’ll be opening a hotel in Waco, Texas.

The couple is renovating the 53,000 square-foot Grand Karem Shrine building in the city’s downtown area, which is located just blocks from their Magnolia Market.

They plan to transform the nearly 100-year-old building into a three-story lodging facility that features a grand ballroom, a full restaurant, a rooftop terrace and a café.

According to the couple, their team will begin renovations this fall. They say they can’t wait to restore the building back to its “former glory” and are “amazed by the [building’s] unique architecture.”

The boutique hotel is set to open in 2021.

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