PaperCity Magazine

PaperCity Houston March 2024

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Page 47 of 131

take on the lobby focuses on a moody vibe with fumed-oak walls and French limestone floors, unique for the stone's hints of olive, coral, and gray hues. Intimately scaled, the lobby feels personal — "like coming home," he says. O n a n y g i v e n Sunday night, you'll find Craig Reid strolling through Dallas' Highland Park Village with his young grandsons. "We walk around to look at all the cars — people bring out the really nice cars, ones they might only take out for a joy ride on the weekend. It's quite a show," he says. In a parking lot bumper-to-bumper and gleaming with Mercedes-Benz, Audi, and Lexus logos, Sundays in the Village rumble with the throaty roar of hand-built Ferraris, Maseratis, Lamborghinis, and Bugattis. It's this rarefied air of a typical Sunday night in the heart of Highland Park (never mind the breathtaking array of designer boutiques rivaling Rodeo Drive) that helped convince Reid that Dallas was ready for an Auberge hotel — the kind of five-star, ultra-indulgent stay favored by the well- heeled and well-traveled. Downtown, the Arts District, and Uptown were all carefully considered as possible locations for an Auberge, but it wasn't until Reid met with the team behind The Knox that he realized he'd found the location of a lifetime. With easy access to Central Expressway, adjacency to the Katy Trail, and a bustling neighborhood of shops and restaurants, The Knox development has unrivaled proximity to one of Texas' most coveted neighborhoods. "You could throw a baseball into Highland Park," he says. "For me, Highland Park is the powerful connection that makes it work." Slated to open in 2026, The Knox is a joint venture between BDT & MSD Partners, Trammell Crow Company, The Retail Connection, and Highland Park Village Associates. Once completed, it will total 1 million square feet of mixed-use space with an ultra-luxury hotel and residences, both managed by the Auberge Resorts Collection. It also includes a nine-story office, a separate multifamily building, two stories of retail and restaurants, and a half-acre park connected to the Katy Trail. T h e m a s s i v e four-acre project broke ground in December with $619 million in financing from P l a n o - b a s e d Beal Bank. A l l i e B e t h A l l m a n & Associates is the listing agent for The Knox r e s i d e n c e s , which feature 48 condominiums ranging from 2,500 to more than 15,000 square feet. Buyers are almost all from Dallas — mostly long-time Highland Park and Preston Hollow residents who want to continue to live large within the ease of high-rise living, and they are snapping up multiple units to create homes that are 8,000 square feet or more. Prices start at $4.5 million, with many already fetching eight figures — a record in Dallas for condo sales by a wide margin. Few places in the world can support a real estate project like The Knox, says Sabrina Gleizer, a managing director of merchant bank BDT & MSD Partners, a driving force behind the project. "It's going to be one of the most important mixed-use developments in the country, rivaling anything in New York, Miami, Los Angeles," she says. Approximately 10 additional acres are at their disposal in the Knox neighborhood, although there are no specific plans to develop them yet. In February, Auberge announced a strategic partnership with BDT & MSD that will inject significant capital towards acquiring and developing new hotels and residences around the world under the Auberge brand. Based in Mill Valley, California, The Auberge Resorts Collection has a current lineup of 27 properties worldwide, with more than a dozen new hotels and resorts planned, in spots like Florence, Italy; Kiawah River, South Carolina; San Francisco; and Florida. Left, from top: The Knox hotel pool deck. The Knox development in Dallas, slated to open 2026. Auberge CEO Craig Reid 46

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