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6/09/17
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Dunhill Partners has secured $63.5 mil in construction money for the development of the Virgin Hotel Dallas, a 16-story, 268-room upper tier hotel located in the Design District of Dallas, TX.
With the loan in place, the fully entitled project has now commenced construction, with completion anticipated in late 2019. The financing was arranged by Dallas-based Hamilton Realty Finance and funded by PCCP.
Situated on a 1.05-acre site at 1909 Hi Line Dr, the project will feature a full-service lobby restaurant, poolside bar on the amenity deck, and additional upscale amenities including the Commons Club, which is a staple of the Virgin Hotels brand. Upon completion, the property is anticipated to be the third Virgin flagged hotel in the United States. There is currently one Virgin Hotel operating in Chicago, with another scheduled to open in San Francisco later this year.
Located in the trendy Design District of Dallas, the hotel will be in the heart of a thriving, amenity-rich area that has seen much development activity over the last few years, including several thousand apartment units. The Design District is home to a growing number of popular boutiques, art galleries, restaurants, bars, and cafes. The area is located with highway frontage and access to Interstate 35 on the north, and to Riverfront Boulevard and the Trinity River on the south.
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