Luxury Hotel and Condominiums Scheduled for Dallas

May 11--DALLAS -- The Victory Park in Dallas, being developed by Hillwood next to the American Airlines Center, will include a high-end Mandarin Oriental Hotel and 90 condominiums.

It will be called The Residences at Mandarin Oriental, the company announced Wednesday. Dallas will be only the sixth city to have a Mandarin Oriental, considered one of the most luxurious hotel brands on the market. The hotel, set to open in 2009, will be operated by Mandarin Oriental Hotel Group.

Ross Perot Jr., chairman and founder of Hillwood, said in a statement that the hotel is a "major milestone" for the project and that it "will raise the bar for hospitality and luxury living in this region."

The Mandarin Oriental will be Victory Park's second hotel. A W Hotel and residences is scheduled to open June 15. The W Hotel, with 251 rooms and 144 condos, is being developed by Starwood Hotels and Resorts Worldwide.

The Mandarin will be a part of a 43-story building being called Victory Tower, which the developers said will serve as the architectural centerpiece of Victory Park. Construction of the building is scheduled to begin early next year.

The 120-room hotel will be on the first 11 floors of Victory Tower, and the condos will be on floors 22 through 43. The condos will be 1,700 square feet to 8,000 square feet and priced from $850,000 to $6 million.

The remaining floors will be Class A office space, and the building will have about 75,000 square feet for shops, Hillwood said.

Danielle DeVoe, a vice president of communications for Mandarin Hotel Group, said the Dallas hotel will offer specialty dining and a spa among its amenities.

"For us, the Victory Park hotel is an opportunity to bring the hotel brand to the region," she said.

There are Mandarin hotels in San Francisco, Miami, Washington, D.C., and two in New York. A Mandarin will open in Boston next year and in Chicago and Las Vegas, also in 2009. Mandarin also has hotels in Hong Kong; London; Geneva; Jakarta, Indonesia; and Kuala Lumpur, Malaysia.

Also under development at the 72-acre Victory Park are two five-story plaza office buildings, as well as residential buildings. The Vista, a seven-story, 125-unit apartment building, and The Terrace, a seven-story, 95-condo building, will open later this year.

And Hanover Co. is constructing a 28-story, 252-unit apartment building called Cirque.

Victory Park also will soon break ground on The House by Starck and Yoo, a 28-story condo building, and later this year on One Victory Park, a 16-story, 390,000-square-foot office tower that will also have 20,000 square feet of retail space.

In addition to Hillwood, Victory Park is also owned by Hicks Holdings, which Tom Hicks owns.

[Fort Worth Star-Telegram (Fort Worth) (KRT) -- 05/12/06]