Search
 

Forest City Lands Hotel for $350M Promenade

BOLINGBROOK, IL-The 200-acre, mixed-use development will also have another hotel, office condominiums and age-directed housing.

By Gina Kenny | Updated on April 09, 2008

BOLINGBROOK, IL-Forest City Enterprises has brought on Starwood Hotels & Resorts Worldwide Inc. to operate an Aloft Hotel at the Bolingbrook Promenade, a mixed-use project being developed by the Cleveland-based developer. Forest City is also announcing that it plans on adding office condominiums and age-directed housing to the 200-acre development, located at Interstate 355 south of Boughton Road.

The project, when complete, is expected to have two million sf of retail, office, residential and hotel space. The estimated cost for the entire development is about $350 million, says Valerie Westley, development director for Forest City.

The 155-room Aloft is expected to open in July 2009, according to a released statement from Starwood Hotels & Resorts Worldwide Inc. A representative from Starwood Hotels did not respond to requests for interviews.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.