Joel Carlins, president of Magellan, and James Loewenberg, head of NNP Residential & Development, will serve as co-chairmen of the new Magellan Development Group; David Carlins will assume the role of president. Magellan will continue to steer development activity, while the NNP Residential division of the new company will focus on property management and apartment marketing services. All Magellan and NNP Residential affiliates, including Loewenberg Architects, established by James Loewenberg's father and uncle in 1919, will continue to operate autonomously.

The partnership between Carlins and Loewenberg peaked with the development of Lakeshore East. The $4 billion, 28-acre mixed-use community is rising where the Chicago River meets Lake Michigan. Formerly an Illinois Central rail yard and shipping port, the site was briefly a nine-hole urban golf course. The Lakeshore East development plan allows for 10 million sf of properties, including up to 4,950 residences, a 6-acre public park, 2.2 million gross sf of commercial space, 1,500 hotel rooms, 770,000 sf of retail and a proposed elementary school.

Magellan's portfolio of condominium developments includes 21 West Chestnut Place; the Park Newberry; 630 North State Parkway; the Farallon; 600 North State Street; Admiral's Pointe; the Caravel; and the Park Alexandria. NNP's portfolio of condominium and apartment developments during the past 25 years includes State Place Condominiums; 2555 North Clark Street; Gold Coast Galleria; Landmark on the Lake in Milwaukee; One East Delaware Place; 1212 North LaSalle Street; and Ontario Place. Together, the two companies developed the Grand Plaza, Park Millennium; One Superior Place; and Dearborn Place rental communities.