The mixed-use Lakeside DFW is a joint venture undertaking by the Peter P. Stewart family and Pat Cornell of Cornell-Rader. Terms of Hines' entry into the mix are not being disclosed, Hines' senior vice president Clayton C. Elliott tells GlobeSt.com. But, he does confide it will take some market improvements in the hospitality and financial arenas before ground will break. "We certainly will do some preliminary work," he says, "but obviously nothing will happen in 2002 in terms of construction."

Elliott says Hines will be developing the conference center hotel on its own, seeking perhaps a few investment partners along the way. Lakeside DFW is in the pre-development phase for the hotel component, Cooper Fitness Center/Spa and about 145 acres earmarked for build-to-suit office projects plus supplemental commercial uses. The acreage can support up to six million sf.

Lakeside DFW spokesman Alan Stewart said in a prepared statement that Hines' "impeccable reputation and capabilities on similar mixed-use developments around the country will complement Lakeside DFW's extraordinary natural amenities and central location." That location is within six minutes of the Dallas-Fort Worth International Airport and abuts the soon-to-open Lakeside Parkway, a six-lane "spine" road for Lakeside DFW and a gateway to Texas 121 and the fastest-growing communities in the metroplex. The ribbon-cutting is 45 days away.

Wedding Hines to the project continues the high-profile leveraging that the developers are seeking for the strategically positioned development in Flower Mound's Lakeside Business District. Flower Mound Mayor Lori DeLuca said Lakeside DFW is sure to "become the catalyst for further high-quality commercial development" in the designated corridor. Of late, it has been a beehive of activity as developers line up tracts and draw up plans to tap some of the synergy from the developing lakeside project.

In June 2001, it was hoped ground would break this year. But, the economy going south undoubtedly played a role in the delay.

A year ago, the plans called for the lead office project, Sunset Point, to bring one million sf along with 200,000 sf of retail and 50,000 sf of restaurant space. The drawing board also contained a 300,000-sf hotel-conference center, 72,500-sf fitness center, 300,000 sf of medical space and the balance to be delivered in more high-tech office space in keeping with the SmartPark labeling attached to the moniker. Another 230,000 sf of retail will come in joint projects by Henry S. Miller III and Robert Bagwell of Urban Partners Inc., the development affiliate of Henry S. Miller Interests, and Cornell as lead man for Lakeside DFW Land Ltd.