David F. Owen, CFMChief Executive Officer
Santiago MejiaChief Operations Officer
Lance HaverdaChief Business Development Officer
Kevin KimGeraci Law Firm
EB-5 Westin Southlake
Westin Southlake will be one of the elite hotels in the North DFW market. The hotel will be the largest and most upscale hotel within the SH 114 corridor. With its excellent location and proximity to numerous activity centers in Southlake the hotel will offer a markedly different experience to other properties. In addition to the design and guest experience offered, the Westin Southlake intends to distinguish itself from other properties in the area through the use of a leading sales and marketing platform to drive occupancy and room rates.
This project will consist of a four-star, six-story Westin hotel that will operate under an expected 20-year franchise agreement with Starwood Hotels & Resorts Worldwide/Marriott International, and will offer 253 rooms, 26,962 gross square feet of meeting and conference space, a full-service restaurant, a lobby lounge, an outdoor lounge, an outdoor pool, an outdoor whirlpool, a fitness center, a business center, and vending areas. The project is located in Southlake, Texas.
The site is in the city of Southlake Texas, in Tarrant County. Its prominent location on SH 114, between North Kimball Avenue and North Carroll Avenue on the north side of the highway, allows for excellent ingress/egress from the property. Located directly north of Southlake Town Square, a large and prospering multi-use development, this hotel will offer close proximity to all of downtown Southlake’s amenities, including restaurants, theaters, elite shopping, and recreational activities.
Southlake is a census-designated place in Tarrant County, Texas. It is part of the Dallas Metropolitan Statistical Area (MSA), as defined by the U.S. Census Bureau. Located directly north of Southlake Town Square, a large and prospering multi-use development, the project will offer close proximity to all of downtown Southlake’s amenities, including restaurants, theaters, elite shopping, and recreational activities. A Texas protected U-turn lane at North Carroll Avenue and SH 114 provides immediate access to Southlake Town Square without the hassle of being stopped at a stoplight. A protected U-Turn lane is also in place at North Kimball and SH 114, giving excellent access to all vehicles leaving Southlake Town Square. Primary regional access routes serving the DFW Metroplex include Interstates 20, 30, 35 and 45 as well as U.S. Highways 67, 75 and 287.
|New Commercial Enterprise||A List Partners EB-5 Westin Southlake, LLC|
|Job Creating Entity||SRH Hospitality Southlake Investments, LLC|
|Investment Strategy||Preferred Equity|
|Job Creation||851.5 New Jobs|
|Target Raise by NCE||$28,000,000 (56 EB-5 Investors)|
|Total Project Cost||$83,000,000|
|Regional Center||EB-5 Affiliate Network State of Texas Regional Center, LLC|
|Development Start||January 2018|
|Targeted Completion||September 2019|
Attractive Debt + Equity Investment
The comprehensive approach to creating this project is based upon significant product differentiation, an experienced development and operations team, a superior location, best-in-class branding, and is expected to result in strong, predictable financial results that are largely liberated from the broader North DFW market.
Corporate Business Centers
The Westin Southlake is set to benefit from the various employment centers in the area including local Southlake businesses, Solana Business Park in Westlake (two miles west), Deloitte University (three miles west), Sabre Technologies (one mile west), Las Colinas Business Park (12 miles east), and many other employment hubs.
Warner Stone with Seneca Investments and Jerry Crenshaw with Rochester Real Estate are co-developers and they have partnered with Paul Barham of Harrell Hospitality to operate the property. Oxley Williams Tharp is the project’s designated architecture firm, Rogers O’Brien will be the general contractor, and Flick Mars is tasked with interior design and enhancement of guest experience. All three firms have extensive experience in hospitality design and development.
DFW International Airport is less than 10 miles northwest of The Westin Southlake. Annually, the international airport generates over $16 billion in economic activity and sees over 60,000,000 passengers go through it each year. Total enplanements are projected to reach over 105,000,000 by 2035 making DFW one of the largest airports in the world.
Southlake Town Square
Southlake’s preeminent destination spot is the Southlake Town Square, a 1.4 million square foot unique master-planned development that combines various retail, fine dining, office space, multifamily, municipal offices, and hospitality (Hilton Southlake Town Square). Adjacent are the Shops of Southlake totaling over 240,000 square feet of retail, and the recently opened Southlake Park Village, which is a prominent retail destination that includes stores such as REI, Orvis, Luke’s Locker, Sur La Table, and many more.
Westin Hotels and Resorts
The Westin Hotels & Resorts brand is one of nine distinct lifestyle brands that are part of the Starwood Hotels and Resorts global brand. Starwood is distinguished as a leader in the hospitality industry, and the company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG) that allows members to earn and redeem points for room stays, room upgrades and flights. The Starwood Preferred Guest program includes over 17 million members that will all have access to The Westin Southlake.
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