A 115-room, 6-story Hampton Inn and Suites has broken ground at the Grandscape development in The Colony.
Nebraska Furniture Mart is spending $1.5 billion to anchor and develop Grandscape, which will stretch across 433 acres. Its first phase includes two Hilton Worldwide (NYSE: HLT) hotels developed by Carrollton-based Atlantic Hotels Group, which has done construction for other well-known names including Marriott and Holiday Inn.
The hotels will include the Hampton and a 126-room Homewood Suites by Hilton. Both hotels will be upscale to cater to transient and extended-stay customers, a company news release said.
“We are extremely excited to be developing for Hilton inside Grandscape,” said Perry Molubhoy, Chairman and CEO of Atlantic Hotels Group. “We look forward to providing The Colony and our customers with a luxurious, quality product that will make them always (come) back for more – a home away from home.”
Atlantic is set to complete construction in early 2016. The hotel will cost $12 million to build.
Other businesses slated to join the development include restaurants Mi Cocina, Cheddars, Hard Eight BBQ and Rock & Brews.
“The biggest thing that differentiates us from other developers is that we are under no financial pressure to sign tenants,” Jeff Lind, Granscape president, told the Dallas Business Journal in January. “We can tweak anything that we need to tweak and as we open the store, we’ll take our time and do it right.”