Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Tuesday, July 19, 2016
18-story Virgin Hotel, Residences to soon get underway in the Design District
The Dallas-based led development team behind the proposed 18-story Virgin Hotel & Residences in the Design District plans to get underway on the hotel project by this fall.
Now, those plans are taking a more definitive shape and developer Bill Hutchinson said he expects to start construction on the proposed tower by October.
"We're doing great on the project, but a lot has happened behind the scenes," Hutchinson, CEO of Dallas-based Dunhill Partners, which owns the 33-acre development parcel, told the Dallas Business Journal.
"I'm new to hotel development and it's been a learning process for me," he told me. "We were hoping to break ground this summer, but lately we've been looking at October."
Dunhill Partners — which is backed by billionaire Tim Headington and Highland Park Village owner Ray Washburne — is developing the 18-story hotel and condo tower on Hi Line Drive at Turtle Creek Boulevard in collaboration with Vinculum Partners and The Crosland Group.
Virgin Hotels is expected to manage the new Virgin hotel. Virgin could either manage the condo residences, or a specific condo management group could manage the condo portion of the project, but an agreement yet to be made, Hutchinson said.
"It is possible a condo management company might serve us better," he told me. "It might be able also give us some cost savings or synergy to have Virgin manage them both. We are studying that now."
In all, the hotel is planned for 210 rooms, with 70 attached condo residences, called the Virgin Residences. The hotel is expected to have luxury suites, restaurants and bar areas, as well as a rooftop terrace with a pool, spa and gym. It will also have a number of meeting spaces.
Dallas-based 5G Studio Collaborative is the tower's architect. The development team has yet to hire a general contractor to build the hotel and condo tower.