Rosemont Redefined! $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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