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Dallas: New InterContinental Hotel Planned as Part of Cityplace Tower Renovations

Featured Photo (above): InterContinental Hotels and Resorts plans to develop a 223-guest key luxury hotel within part of the 42-story Cityplace Tower in the Dallas Uptown area. Image: Google Streets

Posted: 8-15-19

by Edmond Ortiz

Dallas (Dallas County)NexPoint Advisors has major plans for their initial phase in the revamping of the 42-story Cityplace Tower at 2711 N. Haskell Ave.: a 223-guest key InterContinental Hotels and Resorts (IHG) development.

The Dallas investment advisor and affiliate of Highland Capital Management, also of Dallas, bought the high-rise in 2018 with plans to enhance the Uptown-area complex with restaurants, new retail opportunities and other improvements for tenants and visitors to enjoy.

Now, NexPoint Advisors has confirmed what it has in store for Cityplace Tower. According to an August 14 news release, NexPoint announced it selected IHG as operator of the planned hotel property, establishing a long-term agreement to manage a full-service, luxury hotel within the tower.

The hotel will occupy eight floors and contain a restaurant, bar and lounge. The restaurant will have a fourth-floor terrace overlooking Uptown and Downtown Dallas.

Additional hotel features include an outdoor pool, a fitness center, business center, a Club InterContinental Lounge, and onsite parking. The hotel is expected to open in early 2022, the release stated.

Cityplace Tower, built in the 1980s, looms over North Haskell Avenue and Interstate 75. Image: Google Streets

“We see Cityplace as an opportunity to contribute to the Uptown area,” James Dondero, Highland Capital co-founder and president, said in the press release. “Selecting the right hotel operator was a top priority, and we are excited to partner with IHG.”

IHG operates more than 200 InterContinental hotels worldwide and is planning to develop another 60 properties, according to the company’s website.

“We are extremely pleased to be partnering with Highland Capital to bring the InterContinental brand back to Dallas, and offer world-renowned luxury service to business and leisure travelers,” added Joel Eisemann, chief development officer for IHG’s properties in the Americas.

“With its iconic design and sweeping panoramic views of the Dallas skyline, and premiere Uptown neighborhood location, the Cityplace Tower is a natural fit for an InterContinental hotel. This project will be a tremendous addition to our luxury portfolio in the Americas.”

Matt McGraner, who leads NexPoint’s real estate division, explained that Cityplace Tower offers a prime chance to help build up Dallas’ hospitality supply and to add amenities to existing building tenants.

“In all our plans for Cityplace, our focus is on optimizing the functionality of the building, elevating the experiences of all visitors and tenants, and advancing the surrounding area,” McGraner said in the release.

NexPoint’s planned improvements to the high-rise include the building’s vehicle entrance/exit off North Central Expressway/Interstate 75 and the expansion of the surface parking area to accommodate office visitors and retail customers.

NexPoint also plans to set up valet operations and to provide a space for drop-off/pick-up activities. Additionally, NexPoint will upgrade the shared spaces and
amenities for tenants, renovate the lobby, introduce concourse-level food and retail offerings, and construct a new fitness center.

The tallest structure outside of downtown, the 1.35-million-square-foot tower was built between 1984 and 1988 by the Southland Corp. on an 8.6-acre tract. The property includes 3,300 parking spaces and is connected to the Dallas Area Rapid Transit (DART) light rail network via the adjacent Cityplace/Uptown Station.

Cityplace Tower is managed by NexBank Realty Advisors, which will oversee the renovations. Avison Young represents the building as its leasing agent.


edmond@virtualbx.com

Related Images

Construction Preview
By |2019-08-15T14:26:44-05:00August 15th, 2019|Construction Preview, Feature Story|

About the Author:

Edmond Ortiz is a lifelong San Antonian and a 20-plus-year veteran in local journalism, He previously worked full-time at the San Antonio Express-News, and has been freelancing for outlets such as the Rivard Report.

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