Dallas-based JMJ Hospitality says that it has purchased land in Frisco for its previously announced hotel and residential tower.
The developer bought 4.5 acres (1.8 hectares) in the $1 billion Gate development on the Dallas North Tollway.
The 49-acre (19-hectare) Gate development, which already includes apartment and office sites, is just north of the Dallas Cowboys’ Star in Frisco mixed-use project.
JMJ Hospitality’s planned Gate tower would include a 231-room luxury hotel and 90 branded residences and is scheduled to open in 2024. A restaurant and retail space are also included in the building.
“Frisco is experiencing tremendous economic growth and is a prime location for a luxury hotel and condo residences,” JMJ Development CEO Timothy Barton said in a statement
JMJ Development is also building a high-rise condo and Mandarin Oriental hotel on Turtle Creek in Dallas. And the developer has proposed another project in Dallas’ Design District.
JMJ bought the Frisco land from Dubai-based Invest Group Overseas, which owns The Gate development.
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