Chicago developer eyes Uptown Dallas hotel project

A Chicago developer has acquired one of the last remaining high-rise locations in Uptown near McKinney Avenue.

A company founded by Phoenix Development Partners has bought the vacant corner of Hall Street and Oak Grove Avenue east of McKinney, according to the county charter.

The purchase was funded with a $ 3.9 million loan from Texas Security Bank.

The new property owner has already submitted a zoning application for a hotel development.

Before the pandemic, the previous owner planned to build a 19-story hotel on the site.

The 300-room hotel would have been branded with two different Hilton flags. Dallas’ Merriman Anderson Architects designed a corner building that included a cafe on the ground floor, a pool deck on the fourth floor, and a rooftop amenity level.

Phoenix Development Partners has a track record of building and operating hotel, residential, and mixed-use projects in Chicago, the Midwest, and Florida.

The latest project is the conversion of a historic skyscraper into a hotel in the central business district of Chicago.

Phoenix Development representatives did not respond to requests for details about the Uptown property.

Previous owners were planning a 19-story Hilton hotel on the site.(Merriman Anderson Architects)

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