News Article | 5/15/2006

Mandarin Oriental Stakes Dallas Claim

DALLAS-The Mandarin Oriental Hotel Group will bring its brand to the Southwest for the first time when it opens a 120-room hotel and 90 condominiums in the $3-billion, 75-acre Victory Park project. The multimillion dollar development, which opens in 2009, will be located in the 650-ft tower.

In addition to the hotel and residences, the 45-story tower will also contain 75,000 sf of retail and 275,000 sf of commercial office space, a spokesperson tells “This was an opportunity for us to bring our hotel brand to the Southwest.”

The hotel, which will be located on the first 11 floors of the building, will feature six dining and cocktail venues, an outdoor pool and a 30,000-sf spa. A lap pool, fitness facility and hair salon will also be located on site.

The condominiums, which will range from 1,700 sf to 8,000 sf, will be priced from $850,000 to $6 million and will be situated on the 22nd through 43rd floors. The remaining floors will be class A office space.

The hotel will be the second at Victory Park. A W Hotel, with 251 rooms and 144 condominiums, developed by Starwood Hotels and Resorts will open June 15.

Also being developed on the site are two, five-story office buildings and two seven-story residential properties, a 125-unit apartment building, known as the Vista, and a 95-unit condominium property called the Terrace.

Both are scheduled to open later this year. Another residential project–a 28-story, 252-unit apartment complex called Cirque–is also under construction by Hanover Co. Victory Park is being developed by Hillwood Investments, owned by Ross Perot Jr., in conjunction with Hicks Holdings, owned by Tom Hicks.