DALLAS—Baylor Scott & White Health and Dallas-based Gatehouse Capital have executed a long-term ground lease for the development of a hotel on Baylor Scott & White Health’s Dallas campus.
Gatehouse Capital will be constructing a 132-room hotel at the corner of Gaston Ave. and Hall St. The land is owned by Baylor Health Care System and will be leased to an affiliate of Gatehouse for a term of 55 years with options to extend. Parking and campus access are provided under separate agreement with the adjoining new structured parking garage and medical office building.
“We are excited to work with Gatehouse to create a hotel near our flagship hospital, so that visiting friends and family can stay close to their loved one,” said Wes Huff, SVP of real estate for Baylor Scott & White Health.
“Baylor is an important economic and social engine for the East Dallas and downtown community,” said Marty Collins, CEO of Gatehouse Capital. “We are proud to be a part of this historic and expanding campus, which will offer a branded hotel and modern meeting space. As a preferred provider, there are many future opportunities between the hotel and the hospital. The redevelopment of this area of Gaston Avenue is exciting and it has been a pleasure working with the team at Baylor.”
Construction is expected to begin later in the year upon completion of site work currently underway by Baylor. The hotel will open in early 2017.