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Lakeshore East Developers Carlins and Loewenberg Officially Merge

CHICAGO-Joel Carlins' Magellan Development Group and James Loewenberg's NNP Residential & Development are forming a new corporate partnership under the Magellan banner. The pair is best known for collaborating on the $4-billion Lakeshore East development.

By Dana Dubriwny | Updated on February 16, 2006

CHICAGO-Following years of collaboration, Magellan Development Group and NNP Residential & Development are forming a new corporate partnership under the Magellan name. The merged company and its affiliates are operating from their new headquarters at Three Illinois Center, 303 E. Wacker Dr.

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.

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