MONTCLAIR, N.J., April 19, 2016 /PRNewswire/ -- Today, The Pinnacle Companies, in a joint venture with The Hampshire Companies and investment partner Circle Squared Alternative Investments, announced the groundbreaking of "The MC" hotel, the first full-service hotel to open in Montclair since the Hotel Montclair closed in 1938. Located at the intersection of Bloomfield Avenue and Orange Road, the 120,000-square-foot hotel will have 151 rooms and suites.
When open, the hotel will become part of the Autograph Collection, Marriott International's exclusive portfolio of independent hotels. The luxury boutique hotel will include a rooftop bar, farm-to-table restaurant, a 12,000 square foot conference and event space, as well as a public art atrium and plaza.
"Montclair has long been known as a cultural destination where visitors can experience the best in art, music and fine cuisine," said Montclair's Mayor Robert D. Jackson. "The MC boutique hotel will soon afford visitors and locals the opportunity to take advantage of all we have to offer with an extended stay at a world-class hotel in a culturally rich and vibrant community." Other features will include a covered porte-cochere entryway with valet parking, a lobby library, available board rooms and a state of the art fitness center. An express elevator will take visitors up to the rooftop bar offering panoramic views of Manhattan to the east and the Eagle Rock Reservation to the west. An outdoor public plaza connected to a two-story glass atrium creates a four-season gathering place for the community.
"We're delighted to break ground on this one-of-a-kind hotel that will create a new gateway to downtown Montclair," said Brian M. Stolar, President and CEO, The Pinnacle Companies. "The MC is the result of planning and coordination with Township leaders for over five years to create a new hospitality amenity for the public that will dramatically increase the economic vitality of the Township."
The MC hotel development team will work with the community to develop a wide range of cultural activities for the rooftop bar area, such as morning yoga, programs with Jazz House Kids and the Montclair Film Festival. The hotel will feature art exhibitions in the two-story art atrium. The MC hotel also expects to collaborate on numerous hospitality opportunities and events with Montclair State University, which has 20,000 students just 2.5 miles away.
"Montclair's rich history and culture is what drew us to this project and The MC hotel will be a destination that attracts visitors but will also emerge as a favorite place for locals to gather," said Norman A. Feinstein, Vice Chairman of The Hampshire Companies. "This iconic project would not have been possible without the tremendous support of Mayor Robert D. Jackson, members of Montclair's council, Circle Squared Alternative Investments, our investors, and our partner, The Pinnacle Companies, whose presence in Montclair and decades of development experience helped make this development a reality."
"The MC is truly an exciting opportunity and project. The town's energy and Marriott International selecting it as part of its renowned Autograph Collection portfolio showcases what a special place Montclair is to live and visit," said Jeffrey Sica, Founder and President, Circle Squared Alternative Investments. "Together The Hampshire Companies and The Pinnacle Companies will strive to bring this marquee project to life, becoming part of Montclair's rich history and community."
The MC will be located at the intersection of Bloomfield Avenue and Orange Road on the western end of Montclair's central business district. An affluent suburb of New York City, Montclair is located approximately ten miles northwest of Newark International Airport and 13 miles west of Manhattan.
The hotel is expected to be complete by early 2018.
About The Pinnacle Companies LLC
The Pinnacle Companies worked with the Township of Montclair to create the Montclair Center Gateway Redevelopment Plan, known as CentroVerde, which includes The MC Hotel and the mixed-use Valley & Bloom project. A privately held regional real estate development firm, Pinnacle is based in Montclair, NJ, where the firm has developed The Siena mixed-use condominium building on the site of the former Hahne & Co. department store. Other notable Pinnacle projects in New Jersey include Maxwell Place, a 1,000,000 square foot mixed-use project on the site of the former Maxwell House coffee factory in Hoboken, developed as a joint venture with Toll Brothers. Pinnacle has also joined with Brookfield Property Partners to purchase The Wellmont Theater in Montclair, a live performance venue built in 1922. The theater will serve as the anchor for a planned mixed-use arts and entertainment development. www.pinnaclecompanies.net
To stay connected with The Pinnacle Companies and for updates on the latest news and insights follow Pinnacle on Twitter (@thepinnacleco), and LinkedIn (https://www.linkedin.com/company/the-pinnacle-companies-of-new-jersey).
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment firm based in Morristown, N.J. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at www.hampshireco.com.
About Circle Squared Alternative Investments
Circle Squared Alternative Investments is a firm devoted to uncovering alternative investment opportunities in real estate, private equity and private credit among others. In addition, the firm's team will serve as coaches and mentors to financial advisors, helping them to better understand and communicate to their clients the role and advantages of alternative investments in a portfolio. For more information about Circle Squared, visit www.circlesquaredalts.com.
SOURCE The Pinnacle Companies LLC