http://www.hotel-online.com/News/PR2002_2nd/Apr02_LakesideDFW.html

Hotel Online Special Report / April 15, 2002

​Conference Center Hotel on Grapevine Lake

Near DFW International Airport In Early Proposal Stage

 

Famous ports-of-call influenced this innovative waterfront

master plan that is zoned and approved for corporate 

campus, specialty office, hotel, conference center, spa, 

retail, dining, medical and entertainment facilities

​

          FLOWER MOUND, TX -- Lakeside DFW Land, Ltd., a joint venture of the Peter P. Stewart family and Pat Cornell of Cornell-Rader, and Hines, the international real estate firm, announced today that they have signed an agreement to pursue the development of Lakeside DFW, a 163-acre tract of land overlooking Grapevine Lake in Flower Mound, Texas.  Located six minutes north of DFW International Airport on International Parkway (FM 2499) and the new Lakeside Parkway, the development will occupy the last commercially developable site along the nine-mile-long lake.

          Lakeside DFW is in the pre-development phase with plans for a conference center hotel, a Cooper Fitness Center/Spa and approximately 145 acres slated for build-to-suit office projects and other commercial uses.  Lakeside DFW is zoned and the site plan is approved for up to six million square feet of corporate headquarters, office, hotel, conference center, and high-end retail. The Cooper Fitness/Spa and medical facilities will complement the hotel and provide unique amenities for the corporate users.

          Lakeside DFW is the largest Verizon SmartPark® planned for Texas, which will provide the most advanced telecommunications services available. The project will also have one of the most redundant electric power grids in the region.

          “We are proud to announce our association with the world-class developer Hines,” said Lakeside DFW spokesman Alan Stewart. “Their impeccable reputation and capabilities on similar mixed-use developments around the country will complement Lakeside DFW’s extraordinary natural amenities and central location.”

          “We’ve been closely exploring the feasibility of the conference center hotel and are looking to move forward as conditions warrant”, said Hines Senior Vice President Clayton Elliott.  “The combination of this great site overlooking the lake, its proximity to DFW and the new Lakeside Parkway makes this an awesome location.  We are also encouraged by the Town of Flower Mound’s strong leadership and receptive development environment.”

          Carl Ewert, a top producer for the Staubach Company, has known this property for 10 years.  He commented, “Lakeside DFW is an outstanding corporate location with its scenic lake views and close proximity to DFW Airport.  Hines is a great developer and is an excellent addition to the team.  A team that can deliver this premier business address.”

          International Parkway (FM 2499) and the new Lakeside Parkway are key elements in establishing this corporate address. “International Parkway (FM 2499) already provides quick access to DFW Airport and in a few years it will be the primary thoroughfare between the airport and Denton”, said Lakeside partner Pat Cornell. Flower Mound

Master Plan

          Famous ports-of-call influenced this innovative waterfront master plan that is zoned and approved for corporate campus, specialty office, hotel, conference center, spa, retail, dining, medical and entertainment facilities.

          Plans are to open the four-lane divided Lakeside Parkway between International Parkway and 121 in the next 45 days. In another 45 days, Lakeside Parkway west of International Parkway will open and become the six-lane spine road of Lakeside DFW. “Lakeside Parkway will dramatically improve the site's access to the 121 Corridor and the fastest growing communities in the Metroplex”, Mr. Cornell continued.

          Flower Mound’s Mayor Lori DeLuca said, “We’re confident that the quality that Hines brings to the hotel, Cooper Fitness and future offices at Lakeside DFW will generate a substantial commercial tax base for Flower Mound in the future”. She added that, “Flower Mound, Hines and Lakeside DFW will provide the entire region with extraordinary amenities without equal in North Texas. Lakeside will also become the catalyst for further high quality commercial development in the rest of the Lakeside Business District.”

          Hines’ experience in the Dallas area includes the 3.8 million-square-foot Galleria mixed-use development (consisting of three office buildings, the Westin Galleria Hotel and the 1.8 million-square-foot shopping center anchored by Macy’s, Nordstrom, Saks Fifth Avenue and Gap, Inc.); the 825,000-square-foot Galleria North multi-use development (two office buildings and 112,000-square feet of retail space); and the 215,000-square-foot Computer Associates International building in Plano.

          Hines is a privately owned real estate firm involved in developing, acquiring, leasing and managing real estate, as well as providing extensive global investment management and advisory services. With offices in 76 U.S. cities and 11 foreign countries, and assets in excess of $10 billion, Hines is one of the largest real estate organizations in the world. Access www.Hines.com for more information.

          Lakeside DFW Land, Ltd, a joint venture of the Peter P. Stewart family and Pat Cornell of Cornell-Rader, is also managed by partner Alan G. Stewart.  

 

Contact:

Lakeside DFW

Alan G. Stewart

Alan@lakesidedfw.com

972-233-8925

www.Lakesidedfw.com ​