Magellan Development Group LLC announces agreements with St. Regis Hotels & Resorts and The Alinea Group for its Vista Tower project, which will be rebranded as The St. Regis Chicago.
The St. Regis Chicago will offer an uncompromising level of bespoke and anticipatory service for all of its guests and condominium owners. Combining classic sophistication with a modern sensibility, the hotel is expected to feature 191 guest rooms and several dining options, including a fine dining restaurant with private rooms and outdoor terrace, all-day dining restaurant and lounge overlooking the Chicago River, Sky Bar with outdoor terrace, as well as an indoor pool with outdoor terrace, spa, fitness room, ballroom and meeting rooms.
“We’re pleased to collaborate with the iconic St. Regis brand. The St. Regis Chicago will be the city’s most desirable destination. The St. Regis, coupled with The Alinea Group, aligns with the established caliber of the Vista Tower brand, and our dedication to providing unparalleled luxury for our residents and hotel guests,” said J.R. Berger, Principal, Magellan Development Group LLC. “The partnership with these brands sends the message that Chicago is strong and resilient.”
“We truly thank and appreciate our buyers for their continuous support and faith in Magellan to deliver a world-class product,” said David Carlins, CEO, Magellan Development Group LLC. “We’re thankful to our financial partners Goldman Sachs and J.P. Morgan.”
“Our investment in The St. Regis Chicago is a vote of confidence in Chicago’s real estate and hotel market and a true testament to our longstanding relationship with the Magellan Development team,” said Peter Weidman, Managing Director in the Goldman Sachs Merchant Banking Division.” Capital is being provided by Goldman Sachs’s West Street Strategic Solutions I Fund L.P.
Residents and hotel guests will enjoy various unique culinary visions from Chicago’s famed Alinea Group.
“This is truly a ‘born-in-Chicago’ project, and we are excited to be a part of this amazing architectural wonder. We’ve been in discussions with Magellan for several years to determine how we can best partner on this project, and we look forward to bringing our vision to life,” said Nick Kokonas, co-owner and co-founder of The Alinea Group.
Vista Tower Becomes The Residences at The St. Regis Chicago
The Vista condominiums will become The Residences at The St. Regis Chicago and will consist of 393 condominiums offering residents the ultimate luxury living experience complete with a resident-only amenity floor. Located on the 47th floor, this amenity space will feature a sky terrace with outdoor pool, a private resident lounge and dining room, a demonstration kitchen, a state-of-the-art fitness center, a conference center, a private viewing room, a golf lounge and a children’s activity room. Standing at 101-stories, The Residences at The St. Regis Chicago will offer residents breathtaking views of the river, Lake Michigan and the city.
“The St. Regis brand celebrates the best of luxury living and travel. The Residences at The St. Regis Chicago will provide its residents an extraordinary lifestyle, consistent with the experience guests have come to know and love in exquisite St. Regis hotels and resorts around the world. Guests and residents of The St. Regis Chicago will enjoy the highest level of personalized service through the signature St. Regis Butler Service combined with the modern glamour and high design for which the brand is known,” said George Fleck, Vice President, Global Brand Management and Marketing – St. Regis Hotels & Resorts at Marriott International. “Working with Magellan Development on the Vista Tower project, a significant iconic building in Chicago, allows us to offer Chicago’s Best Address and provide the ultra-luxury experience that is expected by our guests and residents.”
Designed by world-renowned architect Jeanne Gang of Studio Gang, the 101-story tower will become the third-tallest building in Chicago. The Residences at the St. Regis Chicago will welcome its first residents in December 2020 and The St. Regis Chicago is scheduled to be completed in Q3 2021.
For more information on The Residences at The St. Regis Chicago or to inquire about the property, contact Leila Zammatta, Senior Vice President of Sales, Magellan Development Group, at 312.620.8000. Learn more by visiting www.vistachicago.com. Residences are priced from $1 million to $18.5 million.
About Magellan Development Group
Magellan Development Group is a family-owned company that was founded in 1996. To date, Magellan is the premier developer of mixed-use properties in Chicago and has extended its footprint to other major U.S. cities, including Minneapolis, Miami, Nashville, Austin, and Somerville, MA.
From conception to completion, Magellan looks after all aspects of the development process and has unique experience in interrelated fields of real estate design, construction management, development, development consultation, architecture, leasing, sales and marketing.
The St. Regis Chicago has already received acclaim as one of the most anticipated architectural projects in the United States. Utmost consideration has been put into every detail of the project, from the selection of blue-green exterior glass to reflect the colors of Lake Michigan and the Chicago River to the gem-inspired interior finishes of each unit. Upon completion, the building will offer residents and hotel guests the ultimate experience of luxury living. It will become the crown jewel of the Lakeshore East neighborhood, the award-winning, master-planned community built by Magellan Development Group. Lakeshore East is bordered by the Chicago River to the north, Columbus Drive to the west, Lake Michigan to the east, and East Randolph Street to the south and is adjacent to Chicago’s famed Millennium Park, Magnificent Mile, and central business district.
For more information on Magellan Development Group, please visit: www.magellandevelopment.com.
About St. Regis Hotels & Resorts
Combining classic sophistication with a modern sensibility, St. Regis Hotels & Resorts, part of Marriott International, Inc., is committed to delivering exceptional experiences at 45 luxury hotels and resorts in the best addresses around the world. Since the opening of the first St. Regis hotel in New York City over a century ago by John Jacob Astor IV, the brand has remained committed to an uncompromising level of bespoke and anticipatory service for all of its guests, delivered flawlessly by signature St. Regis Butler Service. For more information and new openings, visit stregis.com or follow Twitter, Instagram and Facebook. St. Regis is proud to participate in Marriott Bonvoy, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits including free nights and Elite status recognition. To enroll for free or for more information about the program, visit MarriottBonvoy.marriott.com.
The St. Regis logos are the trademarks of Marriott International, Inc ., or its affiliates. The Residences at The St. Regis Chicago are not owned, developed or sold by Marriott International, Inc. or its affiliates (“Marriott”). The developer of the residential project, Parcel C LLC, uses the St. Regis marks under a license from Marriott, which has not confirmed the accuracy of any of the statements or representations made about the project. If this license is terminated or expires without renewal, the residential project will no longer be associated with, or have any right to use, the St. Regis tradenames or trademarks.
About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.