Waterwalk Hotel Apartments Begins Development in Las Colinas, Texas
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WaterWalk Hotel Apartments, Jack DeBoer’s fifth national brand, began construction on the WaterWalk Las Colinas in Las Colinas, Texas. Las Colinas will be the second of multiple Texas locations. Located adjacent to DFW Airport at George Bush Turnpike and West Royal Lane, WaterWalk Las Colinas is a franchised property owned by a group of Wichita, Kan., investors and led by Allan Dunne, owner and manager of Dunne Investments and Dunne Property Company. The Law Company is the general contractor on the project, and LK Architecture is the architect; both companies are Wichita-based. The Dunne group has committed to developing 10 to 15 additional WaterWalk franchises over the next few years.
WaterWalk Hotel Apartments was created by entrepreneur Jack DeBoer, the founder of Residence Inn, Summerfield Suites, Candlewood Suites and Value Place/Woodspring. WaterWalk’s first property in Wichita, Kan., opened in November 2014.
“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 a statement. “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.”
“Breaking ground on WaterWalk Las Colinas couldn’t have come soon enough,” Allan Dunne said in a statement. “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.”
WaterWalk’s hybrid hotel and corporate lodging concept mirror a similar popular model well-known in Europe. This model provides added space typically seen in apartment homes with the combination of hotel services and offers an array of upscale amenities. The furnished and semi-furnished suites include full-sized appliances in a modern kitchen, full-sized, in-suite 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. The full-service option also includes housekeeping and free, customized breakfast delivered weekly to each suite.