Groundbreaking Ceremony for the New Residence Inn by Marriott Dallas/Southwest – Oak Cliff
Marriott International, Inc. (NASDAQ: MAR), Atlantic Hotels Group, Civitas Capital Group, local officials, and their honored guests joined together today to officially break ground on the new Residence Inn Dallas/Southwest – Oak Cliff. Scheduled to open mid-2017, the hotel will be a 103-room upscale all-suite hotel located in the Canyon in Oak Cliff, a mixed-use development near the intersection of Interstate 30 and N. Westmoreland Rd. The site is minutes away from Historic Oak Cliff, the Bishop Arts District, and less than five miles west of downtown Dallas.
The Canyon in Oak Cliff, a 200-acre mixed-use development, is planned to have 7,500 residential units, 1.2 million square feet of office space and 800,000 square feet of retail. The development abuts Pinnacle Park and a natural creek line and is set in the “canyon” between the property’s two hills. Two multi-family communities, totaling 290 units, have already completed construction, and the master developer is in discussions with several large retailers and restaurants.
“This hotel is a key component in this master planned development,” said Caroline Perel, Managing Director for Civitas Capital Group.
The four-story hotel will contain a fitness center, pool, lobby market, and approximately 600 square feet of meeting space. Guests will enjoy complimentary hot breakfast, free Wi-Fi, and evening social events. An all-suite hotel designed for the extended-stay guest, the property will feature 103 spacious suites that will each offer the following: a fully equipped kitchen with expansive dining bar, a spacious bathroom with a large walk-in shower, a signature sofa offering a comfortable place to work or relax, and a desk design that offers room to spread out and work in comfort.
Civitas and Atlantic are co-developing the project, and the property will be managed by an affiliate of Atlantic. Centennial Bank is providing senior financing for the project, and Civitas Capital is providing an EB-5 mezzanine loan. EJES is the architect on the project, and Shahzay Construction is the general contractor. The project is the second of several joint hotel projects between Civitas and Atlantic within the DFW Metroplex.
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