Churchill acquires unfinished hotel for $3.7M

A local player is taking over an incomplete hotel development near the Galleria Dallas shopping center.

Churchill Capital acquired the 12-story Plush Suites hotel for $3.7 million, four months after original developers Williams & Williams Worldwide Real Estate announced it would auction the property, the Dallas Morning News reported. 

Construction for the posh, 295-unit hotel began in 2019, but a series of design delays set the project back. Eight floors were completed before being listed for sale in December. The building is located at 13931 Noel Road, north of LBJ Freeway.

“My partner and I have decided to sell Plush this year and allow another developer to complete the project,” developer Jon Langbert told the outlet in November.  

Plans for the hotel include three retail spaces, a restaurant, bar, grab-and-go food options, rooftop pool and deck, fitness center, function roof and dog run, amassing over 328,000 total square feet. There are two floors of underground parking below the building.

Churchill Capital, led by president and CEO Michael Stuart Klein, hasn’t confirmed plans for the property. Residential conversion is possible, since utilities haven’t been installed yet, and condos, apartments or senior living are options, the outlet reported.

The Galleria area is undergoing rapid development. Austin-based Bonner Carrington has a $29 million multifamily complex in the works called Cypress Creek at Montfort Drive, which will feature 168 mixed-income apartment units on a 3-acre parcel.

In addition to new buildings, existing ones are changing hands and being renovated, such as the 10-story Wellington Centre. Pratt Street Capital purchased that office building in December for $28 million with plans to upgrade the lobbies and add amenities. 

—Quinn Donoghue