US: WaterWalk Hotel Apartments has started work at its WaterWalk Las Colinas property in 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 investors led by Allan Dunne, owner and manager of Dunne Investments and Dunne Property Company. The Dunne group has committed to developing 10 to 15 additional WaterWalk franchises over the next few years.
WaterWalk Hotel Apartments is the fifth national brand launched by Jack DeBoer, the founder of Residence Inn, Summerfield Suites, Candlewood Suites, and Value Place/Woodspring. WaterWalk’s first property in Wichita, Kansas opened in November 2014 and has produced exceptional results in its first two full years of operation.
“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,” said David Redfern, president of WaterWalk International. “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,” said Allan Dunne. “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 travellers 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.”
The Law Company is the general contractor on the project, and LK Architecture is the architect; both companies are Wichita-based.</p
