First luxury high-rise tower for Flower Mound
Sunday, April 25, 2007 -

Hines, an international real estate firm, broke ground on Lakeside Resort & Residences, Flower Mound’s first luxury high-rise residential and resort property. Located on Lake Grapevine, the 18-story tower will offer convenient access and four-star hotel amenities.

Designed by Dallas-based architecture firms Three Architecture and BOKA Powell, Lakeside Resort & Residences will contain 64 units with a mix of one, two and three-bedroom luxury condominiums, ranging from 1,160 to 2,400 square feet. Ten penthouse units will offer up to 3,500 square feet. 

The tower homes will sit atop a 289-room four-star hotel and conference center featuring a luxury day spa, two waterview restaurants, a lazy river, and an outdoor pool and event space.  The hotel will be well-positioned in the DFW conference market, offering 25,000 square feet of high-end meeting space.  Benchmark Hospitality International will operate the resort hotel.

“Flower Mound presents the ideal setting for a resort and residences of this nature. Our site is unique in the Metroplex, with 60-foot bluffs overlooking Lake Grapevine,” said Clayton Elliott, Hines senior vice president. “The project’s spectacular views, sophisticated design and amenities and proximity to the airport will appeal to hotel guests and residents alike.”

“The Lakeside project coincides well with Flower Mound’s innovative approach to economic development, bringing the community quality places to live, work and play,” said Flower Mound mayor Jody A. Smith.  “We are pleased that a developer of Hines’ reputation and experience has chosen Flower Mound to create a new landmark.  The resort is in a key location with beautiful views, which will make it a regional tourism draw as well as a great place to call home.  This project will only enhance Flower Mound’s reputation as one of North Texas’ top communities.”

Construction is scheduled for completion in the fall of 2008.  Hines expects to offer pre-construction pricing from under $400,000 to approximately $1 million, excluding penthouses. A sales office will open near the site at 1033 Long Prairie in the near future. 

Hines entered the Dallas real estate market nearly 34 years ago. Some notable area developments include the Dallas Galleria, One, Two and Three Galleria Towers, Galleria North and the regional offices for Computer Associates International in Plano. Hines is currently co-developing One and Two Victory Park with Hillwood in Victory Park.  In December of 2005, the firm purchased approximately 600 acres in Las Colinas for development.  Hines REIT, an affiliate of Hines, owns the Citymark building in Uptown Dallas, and the Hines Value Add Fund recently purchased Two MacArthur Ridge in Las Colinas.

Related Stories
No Related Articles Found