Dallas, TX – February 25th, 2016 – Marriott International, Inc. (NASDAQ: MAR), Atlantic Hotels Group, Civitas Capital Group, local officials, and their honored guests joined together today to officially break ground on the new Residence Inn Dallas/Southwest – Oak Cliff. Scheduled to open mid-2017, the hotel will be a 103-room upscale all-suite hotel located in the Canyon in Oak Cliff, a mixed-use development near the intersection of Interstate 30 and N. Westmoreland Rd. The site is minutes away from Historic Oak Cliff, the Bishop Arts District, and less than five miles west of downtown Dallas.
The Canyon in Oak Cliff, a 200-acre mixed-use development, is planned to have 7,500 residential units, 1.2 million square feet of office space and 800,000 square feet of retail. The development abuts Pinnacle Park and a natural creek line and is set in the “canyon” between the property’s two hills. Two multi-family communities, totaling 290 units, have already completed construction, and the master developer is in discussions with several large retailers and restaurants.
“This hotel is a key component in this master planned development,” said Caroline Perel, Managing Director for Civitas Capital Group.
The four-story hotel will contain a fitness center, pool, lobby market, and approximately 600 square feet of meeting space. Guests will enjoy complimentary hot breakfast, free Wi-Fi, and evening social events. An all-suite hotel designed for the extended-stay guest, the property will feature 103 spacious suites that will each offer the following: a fully equipped kitchen with expansive dining bar, a spacious bathroom with a large walk-in shower, a signature sofa offering a comfortable place to work or relax, and a desk design that offers room to spread out and work in comfort.
Civitas and Atlantic are co-developing the project, and the property will be managed by an affiliate of Atlantic. Centennial Bank is providing senior financing for the project, and Civitas Capital is providing an EB-5 mezzanine loan. EJES is the architect on the project, and Shahzay Construction is the general contractor. The project is the second of several joint hotel projects between Civitas and Atlantic within the DFW Metroplex.
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Atlantic Hotels Group is a rapidly expanding hotel owner and operator with interests throughout the Dallas/Fort Worth Metroplex. Atlantic continues to embark on a strategic growth plan that compliments and supplements hotel ownership and operations. A franchisee of Marriott, Hilton, Starwood, and InterContinental Hotels, Atlantic combines extensive resources and unparalleled depth and dexterity that allow the company to succeed in any marketplace. The company has a well-deserved reputation for consistently delivering a great product, great service, and great results. For more information, please visit www.atlantichotelsgroup.com.
The Civitas Capital Group family of companies provides a range of products and services for institutional investors, family offices and qualified individuals. The firm offers compelling, niche investment strategies in U.S. lodging and real estate markets through its Alternative Investments and EB-5 Capital divisions.
For more information about Civitas, please visit www.civitascapital.com or follow us on Twitter.
With nearly 700 properties in the United States, Canada, Europe, the Middle East and Central America, Residence Inn by Marriott is the leader in the extended-stay lodging segment. Designed for long stays, the brand offers spacious suites with separate living and sleeping areas. Fully functional kitchens, grocery delivery, 24-hour markets and complimentary breakfast help guests maintain a healthy balance while on the road. Complimentary Wi-Fi allows guests to stay connected to the home and office, while health and fitness options and inviting lobby spaces provide comfortable places to work and relax.
Residence Inn participates in the company’s award-winning Marriott Rewards® frequent travel program that allows members to earn hotel points or airline miles for every dollar spent during each stay. For more information or reservations, call the Residence Inn toll-free number at 800-331-3131 or visit residenceinn.marriott.com. For travel tips, the latest on the brand or to connect with other travelers, “like” Residence Inn on Facebook and follow Residence Inn on Twitter. Visit Marriott International, Inc. (NASDAQ: MAR) for company information. For more information or reservations, please visit our website, and for the latest company news, visit www.marriottnewscenter.com.