WaterWalk Breaks Ground on Hybrid Hotel, Apartment
The 153-unit community marks the second Texas project for Dunne Group, which has committed to 10 to 15 additional WaterWalk properties.
By Anca Gagiuc
Dallas—WaterWalk Hotel Apartments has broken ground on WaterWalk Las Colinas, a 153-unit community situated adjacent to DFW Airport, at George Bush Turnpike and West Royal Lane in Irving. The franchised property is owned by a group of Wichita investors led by Allan Dunne of Dunne Investments.
“The Dunne group’s commitment to developing 10 to 15 WaterWalk properties over the next few years is evidence that WaterWalk is an attractive opportunity for investors to add strong assets to their real estate portfolios,” David Redfern, president of WaterWalk International, said in prepared remarks. “We’re starting our third year of business in a heightened state of activity with new franchisees coming on board, property openings in Denver and San Antonio, and seven additional properties starting construction from now through year-end.”
The hybrid hotel and corporate lodging concept mirrors a similar model popular in Europe—combining the lifestyle of apartment living with hotel services and a series of upscale amenities such as full-size appliances, washer/dryer, high-speed internet, DirecTV with 300 channels and DVR, a fitness center, bike storage and outdoor spaces with a fire pit and a relaxation pool. Guests can stay a day, a year or longer, with one all-inclusive bill for all utilities and amenities. The full-service package includes fully furnished accommodations, housekeeping and complimentary breakfast delivered to the suite.
“Breaking ground on WaterWalk Las Colinas couldn’t have come soon enough,” said Allan Dunne. “With the thriving business sector and Class-A dense employment in the Las Colinas submarket, the demand is high for a WaterWalk. In about 12 months, corporate travelers will have an enhanced option with the space, amenities, and service they have yet to experience anywhere else. WaterWalk’s unique concept and commitment to nationwide growth, coupled with our expertise and strength in real estate investment and development and our successful track record throughout 15 years of business bodes well for a mutually successful relationship between WaterWalk and our group.”
The Law Co. acts as the general contractor and LK Architecture is the architects; both are Wichita-based.
Image courtesy of WaterWalk