Chicago's Magellan Development Group builds national presence with new luxury apartments
Minneapolis, Nashville projects will create more than 650 apartments.
Chicago, IL.– Chicago-based Magellan Development Group, one of the Midwest’s most prolific large-scale, mixed-use developers, is building a national footprint through two mixed-use projects in Minneapolis and Nashville.
The expansion in Minneapolis includes a luxury apartment tower which is currently under construction in the Loring Park neighborhood in downtown Minneapolis. The 36-story mixed-use high-rise, called LPM Apartments, will contain 354 rental apartments. Additionally, Magellan has formed a joint venture with Nashville based developer Giarratana Development and Wanxiang America Real Estate Group. Plans are underway for SoBro, a 32-story tower which will include more than 300 apartments, over 14,000 square feet of world-class amenities, nearly 20,000 square feet of restaurant and retail space and more than 500 parking spaces.
David Carlins, president of Magellan, noted that “our focus has now moved to a national platform with projects in Minneapolis and Nashville. Magellan’s reputation in multi-family high-rise development in Chicago has enabled us to enter into new markets around the country and we are investigating new opportunities. We look forward to opening our doors in Minneapolis and bringing our expertise to downtown Nashville.”
Magellan affiliate, Loewenberg Architects designed the SoBro tower. James Loewenberg, architect and Co-CEO of Magellan, feels “our success is a result of the company’s vision, its insistence on quality design, construction, and materials. The structure is designed to be a striking icon with its curved glass facade.”
The development group has a reputation as a one of Chicago’s leading residential developers, having developed more than $3 billion of residential, mixed-use and commercial projects. Co-CEOs Joel Carlins and James Loewenberg and President David Carlins, have completed more than 20 projects totaling more than 6,600 residential units, more than 600,000 square feet of commercial space and received more than 60 awards for excellence within the past 17 years.
“Magellan is looking to energize new communities.” Carlins stated, “We go beyond designing and creating residential developments by transforming neighborhoods. Chicago’s River North, Gold Coast and Lakeshore East neighborhoods are thriving today because of our impact. The vision for Lakeshore East is transforming a difficult and complex site into a new $4 billion, 28-acre neighborhood planned for 4,950 residential units and a six-acre park. Our team is excited to form this new partnership with Giarratana Development and Wanxiang America Real Estate Group. We hope that SoBro will be the first of many projects in downtown Nashville and see this project as a critical component to the SoBro Strategic Master Plan and the vitalization of downtown Nashville.”
For more information on Minneapolis, Nashville and other Magellan Development Group residences please visit http://www.magellandevelopment.com/.
About Magellan Development Group
Since its inception in 1996 Magellan has evolved as one of the most prolific and highly respected developers of large-scale mixed-use properties in the Midwest. Magellan’s expertise spans the interrelated fields of Chicago real estate development, design, development consultation, architecture, leasing, sales and marketing. This strong combination enables Magellan to manage the entire development process from conception to completion. Magellan’s principal project, the award-winning 28-acre Lakeshore East, is halfway completed and already home to thousands. When completed the ‘village in the heart of the city’ will include 4,950 residences, 2.5 million square feet of gross commercial space, 1,500 hotel rooms and an elementary school surrounding a magnificent 6-acre botanical park.