The luxury Four Seasons Resort and Hotel in Las Colinas has recently been sold to an investment group. Built in 1986, the five-star golf resort now belongs to international investors, Partners Group and Trinity Fund Advisors. The Four Seasons was previously owned by Extell Development Co., a New York Based company that took over the property in 2018. According to the Dallas Morning News, the two firms plan to embark on a “multimillion-dollar capital improvement”. The owners intend to renovate the interior, outdoor property, and dining options extensively to give the resort a completely new look. They are optimistic about this opportunity because Dallas is becoming an important business hub. The resort will benefit from rising demand from businesses for venue spaces and the increase of visitors in the area.
Hotels and resorts, especially one of this size, require numerous certificates and permits to function. Masterplan had the pleasure of assisting the new owners with these needs. Our team provided certificates of occupancy for the property which is required to represent the building’s compliance with building codes and other laws. Masterplan also provided licenses for alcohol and tobacco sales, health and spa operators, cosmetology, and massage therapy. We then provided permits for the swimming pool & hot tub, Texas sales & use tax, heat, and diesel fuel. Ethel Green, one of our senior consultants and manager of this project, went through the State of Texas, the City of Irving, and the Irving Fire Department to successfully provide the certificates, licenses, and permits needed for operations to start at the hotel.
Luckily, Four Seasons is not leaving Dallas. Carpenter & Company, a Boston-based real estate development company, recently announced their plan to implement a new Four Seasons property north of Uptown on Turtle Creek.