ROSEMONT, IL—First Hospitality Group, Inc., based here, has been selected to develop and manage a new hotel on Chicago’s Navy Pier.
The hotel will be located on the easterly end of the pier enabling each of the more than 200 rooms and suites to have its own balcony overlooking the water. The development will include at least one full-service restaurant.
Construction of the five stories of hotel space will begin in 2017 and is slated for completion in the second half of 2018. The Switzerland-based real estate company, Acron, will partner with FHG on the project expected to cost approximately $90 million. Jackie Koo of KOO LLC, a Chicago-based architecture, interior design and planning firm, will design the project and James McHugh Construction Co. will be the builder. The project is expected to create 200 construction and 300 permanent jobs.