Thanksgiving Tower |
"It's a total transformation that re-establishes the club for the next 30 years," says Dave Woodyard, EVP of business and sports clubs for Dallas-based ClubCorp Inc. The 150-seat ballroom will be expanded to accommodate 250; the dining room redo will create eight private rooms, an increase of two, for parties from casual to formal dress; and offices will be relocated to expand the dining room and bar/grill areas. He says the work will take "four to five months" to complete, with the 1,700-member Tower Club staying open throughout the phased-in makeover, which will include new fixtures and furniture for ClubCorp's flagship property in the 1.4-million-sf high rise at 1601 Elm St.
"I think Dallas is really going to love it," Woodyard tells GlobeSt.com. The renovation cost is being shared by high-rise owner, Los Angeles-based Younan Properties Inc. Woodyard says it's also tied to a ClubCorp plan that allocated $28 million for its 2007-08 cap ex program nationwide. In Chicago, the Mid-America Club at 200 E. Randolph Dr. is getting a $3.5-million overhaul and the Metropolitan Club at 233 S. Wacker Dr. is in line for $6 million of upgrades. The Houston City Club at One City Club Dr. is being paced through a $3-million renovation and eight other clubs each will get $1 million of upgrades.
ClubCorp did have brokers sizing up Downtown relocation sites, but "we decided in the end this was the best alternative," Woodyard says, adding both existing and new high rises were under review. "The synergies in the new buildings were not as positive as staying where we are and renovating."
PayneTower |
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.