A development firm has been given the green light by the Town of Flower Mound to build a 12-acre mixed-use neighborhood adjacent to Lakeside DFW, which includes a five-story, 134-room hotel.
The mixed-use development, called Lakeside Crossing, will sit on the west side of Long Prairie Road near the intersection of Lake Forest Boulevard, and will also include about 100,000 square feet of retail, office and restaurant space with about 15 luxury townhouses.
Keller-based Newstream Commercial, which is affiliated with Newstream Hotels & Resorts, plans to soon begin building the hotel — flagged by Dream Hotel Group’s Unscripted Hotels brand — for it to open in 2019.
The Unscripted DFW hotel will include 134 guest rooms and suites with nearly 4,000 square feet of meeting space, a full-service restaurant and a rooftop lounge for guests. This is the first ground-up build for the brand, officials said.
Dream Hotel Group CEO Jay Stein said this concept will add to the community of the Town of Flower Mound.
“The Dallas-Fort Worth area, specifically the Town of Flower Mound, is one of the most exciting and welcoming places in the U.S., and it’s our goal to introduce new concepts that reflect and enrich the place it calls home,” he said, in a statement.
Mayor Pro Tem Don McDaniel said the hotel will give the town’s business travelers another lodging option with even more dining and shopping from the Lakeside Crossing mixed-use development for residents.
By having Lakeside Business District, Director of Economic Development Andrea Roy said the town has been able to retain some of its existing growing businesses — and she expects to same to happen with this extension of the district.
The Town of Flower Mound assisted with the project. The details of the economic incentives offered by the town were not immediately available.
The design of Lakeside Crossing will incorporate stone and wood into the architecture to reflect the natural Texas surroundings. Newstream Commercial is the developer of the project.
Newstream Hotels & Resorts President Scott Tarwater — who is also building a hotel project in McKinney’s Craig Ranch— said it has been a dream come true to bring a development like Lakeside Crossing and the upscale hotel to his hometown of Flower Mound.
There’s been a spree of hotel developments throughout North Texas, with developers building projects based on solid RevPAR stats in the region. The influx of companies and residents into Dallas-Fort Worth has bolstered these fundamentals, real estate sources say.