IRVING, TEXAS — WaterWalk Hotel Apartments has broken ground on WaterWalk Las Colinas, located adjacent to DFW Airport at George Bush Turnpike and West Royal Lane in Irving. WaterWalk Las Colinas will feature 153 units across two buildings and is expected to open by Memorial Day of 2018. The franchised property is owned by a group of investors based in Wichita, Kan., and led by Allan Dunne, owner and manager of Dunne Investments and Dunne Property Co. The Law Company is the general contractor on the project, and LK Architecture is the architect. Both companies are also based in Wichita.
WaterWalk combines the features of an upscale extended-stay hotel with the lifestyle of apartment living. Guests may choose to stay a day, a week, a month, a year, or longer with one all-inclusive bill for utilities, DirecTV with 300 channels and premium channels, DVR, Internet, phone, gym facility and 24/7 concierge services. With the full-service package, guests receive fully furnished accommodations, housekeeping and a complimentary breakfast delivered to the suite.
The Dunne group has committed to developing 10 to 15 additional WaterWalk franchises over the next few years. WaterWalk Las Colinas is the investment group’s second project in Texas. Jack DeBoer, the founder of Residence Inn, Summerfield Suites, Candlewood Suites, and Value Place/Woodspring created WaterWalk Hotel Apartments. WaterWalk’s first property in Wichita opened in November 2014.
“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 travelers will have an enhanced option with the space, amenities and service they have yet to experience anywhere else.”
Dunne Investments and Dunne Property Co. are private, family-owned businesses. The company’s focus is on real estate investment and development throughout the country, as well as crude oil and natural gas exploration and production investment primarily in the mid-continent region. Dunne Investments owns or manages real estate in Kansas, Arizona and Oklahoma City with energy holdings in Kansas, Oklahoma, Colorado and Alaska’s North Slope. The company is also an investor in several alternative investment categories including venture capital, private equity, and private note investments.