$500M Rosemont Walk, Pedestrian and Family-Friendly Development of Hotels,
Restaurants and Entertainment to Generate Excitement, 3,000 New Jobs, Grow
Illinois Tourism and Convention Business - Redefine Rosemont
ROSEMONT, Ill., May 9 /PRNewswire/ -- Standing on the land that will redefine Rosemont, Mayor Donald E. Stephens and developers along with representatives from the convention, hospitality and business sectors, today unveiled the master plan and anchors for Rosemont Walk, an ambitious $500M mixed-use family-friendly development of hotels, restaurants, entertainment and offices built around the Donald E. Stephens Convention and Conference Center and Rosemont Theatre. The pedestrian-friendly 60-acre development will add 600,000 sq. ft. of prime retail, office and entertainment space, over 1,100 hotel rooms and is expected to create some 3,000 new jobs in the Village that is conveniently located in the heart of Chicago's suburbs next to O'Hare International Airport and serviced by Interstate, Tollway, CTA and Metra train service. (Photo: http://www.newscom.com/cgi-bin/prnh/20060509/CGTU020 ) "For years we've had a vision for a comprehensive entertainment district," said Mayor Donald E. Stephens. "With today's announcement, Rosemont opens the most exciting chapter in our history -- a chapter that will be remembered as our defining achievement. It can no longer be said that Rosemont waited for the courts, the legislature or any state agency or official to determine our destiny. Today we chart our own course and the people of Illinois will benefit." After unveiling the master plan for Rosemont Walk, the group broke ground on the $300M phase one which includes the project anchors of Grizzly Falls Resort, a 400,000 sq. ft. family waterpark resort featuring a 100,000 sq. ft., state-of-the-art indoor waterpark and a first-rate 400-room hotel; a 525-room Le Meridien Chicago O'Hare Hotel, one of the world's leading luxury hotel brands, and Muvico Rosemont Walk 22, a first-class 110,000 sq. ft., 4,750-seat, 22-screen themed megaplex by Muvico Theaters. "Rosemont Walk will bolster the Village's positive economic contribution to the Chicagoland and Illinois economy," said Stephens. "We're growing Rosemont into an enhanced destination location for our existing and new meeting, convention, tradeshow, leisure, business and entertainment customers from Chicagoland and around the world." Linked by new streetscapes, signage and features, Rosemont Walk will encompass the existing Donald E. Stephens Convention and Conference Center, Rosemont Theatre, Gibsons Steakhouse, Morton's Steakhouse, and Sofitel, Crowne Plaza, Embassy Suites and Doubletree hotels. The overall development will cover the area bound by Bryn Mawr on the north, River Road on the east, I-294 on the west and the Village boundary on the south. The Village is planning a free trolley service to link Rosemont Walk to the Allstate Arena, O'Hare International Airport and area hotels, restaurants, office buildings and shopping. Design and marketing efforts for Rosemont Walk are being led by Marc A. Offit, Chairman and CEO of Sierra Realty Advisors. The firm is managing the project's master plan and will market future phases that will include office space, hotels, restaurants and entertainment offerings including plans for a bowling alley and a focal point outdoor ice rink. "I have the rare opportunity to bring to life the Mayor's vision of a Village mecca that's as pedestrian friendly as it is lively," said Offit. "It will be the premiere destination for lodging, entertainment and dining in Chicago and the Midwest." A first in the Chicagoland market and one of the largest and most exciting in the Midwest, Grizzly Falls Resort, with its state-of-the-art 100,000 sq. ft. indoor waterpark, a 400-room all-suites resort will bring new tourism dollars to Illinois and creates a new leisure product in the market. Developed by Chicago-based Landmark Resorts & Hotels, at an approximate project cost of $110M and a total of some 400,000 sq. ft., this is no ordinary water park. It will feature a world-class spa, a large family entertainment center, a family food court, concierge and limousine service. "Rosemont is a great location for a resort destination of this magnitude," said Eric Lund, principal and cofounder of Landmark Resorts & Hotels. "Landmark is proud to be part of the Village's efforts to broaden its entertainment offerings. We look forward to working together with Rosemont in creating a new and fantastic resort destination to serve families from around Illinois and the world." Grizzly Falls Resort will offer unique entertainment and year-round recreation and leisure options for Chicago area families seeking a fun-filled, getaway close to home and give new options to Rosemont's growing convention, tradeshow and meeting visitors. Adding to Rosemont's 14 hotels and 5,673 hotel rooms, the $128M Le Meridien Chicago O'Hare Hotel development is a 16-story, 433,000 sq. ft. 525-room property with an 810-car parking garage and three dining options. Osteria di Tramonto, the in-hotel restaurant by Cenitare Restaurants, LLC of which Rick Tramonto of TRU is the executive chef and culinary director, is a mid-priced, three-meal concept that will offer hotel guests and visitors specialties from all regions of Italy. Deals on two upscale restaurants that will front River Road are in the works and will be announced shortly. "We're pleased to bring Chicagoland's newest upscale hotel development to Rosemont," said The Harp Group president Peter Dumon also representing Mid-America Development Partners. "With prime frontage adjacent to the Rosemont Theatre, the project will extend Rosemont's offerings south along River Road." Adding to Rosemont's entertainment options, Muvico unveiled detailed plans for Muvico Rosemont Walk 22 that will transport movie-goers back to the golden age of the grand movie palace. With its lavishly themed environment this 22-screen megaplex will have the classic look and feel of a bygone era of cinema with all the modern amenities and technologies expected of today's savvy moviegoers. Muvico Rosemont Walk 22 will feature Muvico's exciting "bigger than life" themed architecture and the same innovative, signature amenities and services that have long-ranked high among its current movie-goers throughout Florida, Maryland and Tennessee. In addition to stadium seating and wall-to-wall curved screens, the auditoriums feature 24-inch wide seats and 46-inch row spacing to offer enough room to walk between aisles and Dolby digital sound in every theater. Muvico will offer an expanded concession menu and signature guest services including valet parking and online ticketing. "We are thrilled to bring the golden era of the grand movie palace to Rosemont Walk and Chicago," said Muvico Theaters president Mike Whalen. "This project seamlessly blends our signature themed design and architecture with all the modern technologies of today. Muvico will bring unparalleled customer service, unmatched amenities and an entertainment destination unlike any other movie theater in this market." With an exclusive on-site children's playroom supervised by teachers and assistants, Muvico will return spontaneity to movie-going parents who want to relax and enjoy a film hassle-free without having to worry about finding a babysitter. The playroom will feature a fun, kid-friendly themed environment for ages 3-10 that will include such amenities as a computer zone, a reading corner, and arts and crafts space, a science area, a free play spot and assorted play activity areas. The complete Rosemont Walk will offer a variety of restaurants spanning every dining interest, from ethnic specialties and upscale to kid-friendly. Visitors will be able to enjoy leisurely shopping at stores and boutiques and will have a dazzling good time at nightclubs and other entertainment venues. The Village has also approved plans by Duke Realty Corporation for a 72,000 sq. ft. office and warehouse for U.S. Customs and Border Protection. Valued at over $14M, the project located east of Rosemont Walk will bring some 250 Department of Homeland Security employees to Rosemont, strategically located in Chicagoland and near O'Hare International Airport. ESTIMATED PROJECT TIMELINE: May 9, 2006 Rosemont Walk Unveiling and Phase 1 groundbreaking Summer 2006 Muvico Rosemont Walk 22 construction begins Late 2006 Grizzly Falls Resort construction begins Fall 2007 Muvico Rosemont Walk 22 opens Spring 2008 Grizzly Falls Resort opens May 2008 Le Meridien Chicago O'Hare Hotel opens ABOUT ROSEMONT: The Village of Rosemont is a major economic engine for Illinois and a premier destination for commerce, entertainment and hospitality. Only 50 years ago, this 2.5 square mile area was unwanted land adjacent to O'Hare International Airport. Capitalizing on its strategic location, 85 pioneering residents had the idea to incorporate the Village of Rosemont and create a center of commerce to support visitors from around the world. Rosemont. Welcoming the World for 50 Years. On the web at http://www.rosemont.com . ON THE WEB: Village of Rosemont http://www.rosemont.com (including master plan & project renderings) Rosemont Walk http://www.rosemontwalk.com Sierra Realty Advisors http://www.sierraadvisors.com Landmark Properties http://www.landmarkpropertiescorp.com Muvico http://www.muvico.com Mid-America Development Partners, LLC http://www.midamdevelopment.com The Harp Group, Inc. http://www.theharpgroup.com
SOURCE The Village of Rosemont
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