If you ever needed a place to stay in Waco, Texas, Joanna Gaines and Chip Gaines can now officially hook you up! The home improvement power couple announced their latest project on Thursday, October 3, revealing that they are opening a boutique hotel in the city’s downtown area — just blocks away from the Magnolia Market at the Silos.

“Chip and I are thrilled to share the news that in 2021, we will be opening the doors to a boutique hotel in downtown Waco, Texas!” the 41-year-old beauty gushed in a blog post. “If you’ve followed our work, you might notice a pattern — that time and time again, Chip and I are drawn to projects that emphasize the value of home.”

In their announcement, Joanna opened up about their hopes for their latest project and how they went all-in because “it bridges what we’re most passionate about — home, hospitality, and restoration.” She hopes that with their design process, they will create a hotel “where people feel welcomed” and serves as “an extension of the way we feel about our own home and all it represents to us.”

The We Are the Gardeners author — who shares kids Drake, 14, Ella, 13, Duke, 11, Emmie Kay, 9, and Crew, 1, with husband Chip — revealed the couple will begin renovations, working with Adventurous Journeys Capital Partners, on the nearly 100-year-old building this fall.

Joanna shared that with inspiration “behind some of the most iconic and creative hotels in the country,” including Soho House Chicago, the Graduate Hotels and others, the team will completely transform the 53,000-square-foot property. The building is expected to be renovated into a three-story hotel complete with a grand ballroom, restaurant, cafe, rooftop terrace and much more.

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Happy Easter from the Farm!

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As fans of the former Fixer Upper stars know, this is one of a handful of projects the couple has worked on in the last year. Besides launching a brand new TV network and designing a permanent playhouse for the St. Jude Target House, Chip and Jo also currently opening a brand new coffee shop, Magnolia Press, in town.

This past March, a source close to the longtime twosome opened up about their expansion in Waco and revealed why they are looking to “fix up” the small Texas town.

“They’re turning Waco into their own brand of paradise,” the insider exclusively told Closer. “They’re buying uptown property at a rapid rate, including a real castle and a historic museum just blocks from their Magnolia Market at the Silos. Chip and Jo feel the town could use some improving.”

We can’t wait to see what other amazing things Chip and Jo bring to Waco!