Follow CBSDFW.COM: Facebook | Twitter

DALLAS (AP) – A Pegasus sign that was perched atop a downtown Dallas building for 65 years has been restored and will once again be on display.

The City of Dallas says installation of the winged red horse made of porcelain-coated steel begins Saturday in front of the Omni Hotel.

It’s been 16 years since the Pegasus was removed from the top of the building that now houses the Magnolia Hotel. The Magnolia Petroleum Company placed the Pegasus there in 1934 when it occupied the building. The statue, which eventually became city property, was removed in 1999 after deteriorating.

A new version was then commissioned for the building and the 1934 Pegasus eventually went into storage. The city and Matthews Southwest, developer of the Omni, partnered on the restoration, which started in 2013.

(© Copyright 2015 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)