Page 2 - Magellan Development Group News Today

The St. Regis Chicago Brings the Iconic Brands Glamorous Spirit and Celebrated Rituals to the Midwest

Gencom, GD Holdings and Magellan sealed $76 million of acquisition financing to purchase a St. Regis hotel property in Chicago.

The 192-room hotel, which is quoting room rates at around $1,000 per night, is part of architect Jeanne Gang’s 101-story tower in Lakeshore East.

Miami-based Gencom and Denver-based GD Holdings finalized their purchase of the Magellan Development Group-built hotel overlooking Lake Michigan.

The pace of hotel development is fast and furious—and can be hard to keep up with for busy meeting planners. As professionals across the country work to keep up with bookings and meetings, Meetings Today did the research—so you don’t have to!—on the hotel openings that meeting and event professionals must know about this year. From coast to coast, here are eight premier properties that should be on your radar.  

It's the second-highest local home price of the year to date. At this time last year, 11 Chicago-area homes had sold at higher prices. 

With longstanding plans for a five-star hotel now dead, the city hopes to entice developers to purchase and redevelop a downtown parking lot that comes with a key condition: Provide lots of low-income housing.

Elected leaders to initiate process for soliciting proposals to redevelop a city-owned site at Seventh and Market, with an emphasis on affordable housing.

Next steps for the city-owned land at 7th and Market will likely be declaring the site surplus, as required by state legislation, and re-starting a process for redevelopment, with the emphasis on affordable housing.

San Diego is ready to cancel the nearly seven-year-old deal with Cisterra and its partners because the group won't be able to make crucial deadlines for the now $700 million project