Tuesday, September 16, 2014

Prominent Developer Plans to Move forward with Motor Row Hotel and Retail Development

James McHugh Construction released renderings to the Tribune ahead of a Monday night meeting with South Loop residents on a planned boutique hotel in the South Loop. (James McHugh Construction)
Some more development news for Motor Row (via Chicago Tribune):
A Chicago developer is moving forward to put a boutique hotel, data center and retail in the South Loop, the final piece of a massive redevelopment in the next few years.  
James McHugh Construction officials are hoping the new plan will resolve a year-old lawsuit seeking to force the firm to sell the land to the city. Work could begin in the next few months, officials said.  
Originally, the city and the Metropolitan Pier and Exposition Authority, a state-city agency known as McPier, wanted to build a 1,200-room hotel on the property as part of a proposed $600 million redevelopment of the surrounding Motor Row district into an entertainment destination. But when the contested land became tangled in litigation, McPier opted to build a Marriott Marquis a few blocks east at Cermak and Prairie Avenue. Agency officials said they hoped to find a private developer for a boutique hotel on the contested land once the lawsuit was resolved. The caveat was that the boutique hotel would have to be privately developed for the McCormick Place redevelopment project to stay on budget. 
McHugh's new offer to add a 28-story, 500-room hotel on the disputed land at Cermak and Indiana, in addition to a long-planned data center, could satisfy the city's goals, while still securing the data center McHugh has been planning.

Some big plans for this area, should be interesting as the continue to develop.  With most things down in this area, when we see it we will believe it.

(Hat tip:  JR!)

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