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DALLAS-RED Development LLC, with a junior partner at its side, has gotten control of a full city block for a plan to build twin towers with retail, office and hospitality space. The $250-million development is penciled for a spring 2007 groundbreaking.

RED Development, marking its first project in the city, plans to raise a pair of 27-story towers with 95,000 sf to 150,000 sf of upper-upscale retail space, 400 condos and a to-be-determined number of hotel rooms. David Clafin, vice president of marketing for the Kansas City, MO-based development group, says negotiations have begun with a hotel operator for the project, which will sit on a block bordered by Ashland and Field streets, within walking distance of American Airlines Center and in the shadow of Hillwood’s mixed-use Victory.

“This project will be a perfect compliment to the outstanding development that is currently going on in the area as well as the historic entities that have existed for years,” Dan Lowe, a RED Development partner, says in a prepared statement. The development plan was unveiled yesterday as the International Council of Shopping Centers wrapped up its Las Vegas convention, where upper-end, urban retailers were being sized up for the mix.

Clafin tells GlobeSt.com that RED Development began talks about six months ago with a Dallas “partner” whose identity is being kept under wraps for now. Dallas wasn’t on the developer’s radar screen, but it didn’t take long to decide to become part of the largest building boom in decades in the city, he says.

The project is still being gamed out, but it’s envisioned as one hotel tower and one for condos. The “to do” list includes picking an architect and scraping an office building from the site. But when work does begin, Clafin says the plan calls for an 18-month construction cycle.

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