For Immediate Release
May 29, 2008
For More Information:
Larry Schaffel/PR Director
Tricia Van Horn/VP Marketing
312/642-8869
Lakeshore East, the blossoming mixed-use urban village being developed by Magellan Development Group near the confluence of Lake Michigan and the Chicago River, has captured a highly-esteemed international ‘Oscar’ for its Master Plan Design from the International Real Estate Federation.
The “village in the heart of the city” that was named 2007 Development of the Year by the Greater North Michigan Avenue Association was the only U.S. winner of a 2008 FIABCI Prix d’ Excellence award that honors international property development excellence.
Other 2008 Prix winners are as follows:
Prix award winners were announced May 29 at the FIABCI (the International Real Estate Federation) World Congress held in Amsterdam, Holland. Accepting the award were Magellan co-CEOs Joel Carlins and James Loewenberg. The World Congress is held in different nations each year, the prior two being held in Barcelona and Bangkok.
The Lakeshore East master plan created by Chicago-based Skidmore, Owings & Merrill LLP also received the American Institute of Architects (AIA) Planned Community Award in 2002.
Founded in France in 1945 and officially constituted as FIABCI in 1951, the Federation now represents 106 national real estate trade associations with a membership of more than two million real estate professionals from 60 countries, including Russia and China.
The Federation also enjoys a ‘special consultative’ status with the United Nations and particularly its Economic and Social Council (ESOCOC), serving as an adviser on various global property issues.
Winners of 2008 Prix awards were selected by eight oversight panels of top professionals from Australia, Colombia, Hungary, Malaysia, Norway, Russia and the United States.
A global award in every sense of the word, the unique Prix d’ excellence is given to projects that show excellence at every stage of their creation. It “recognizes the project that best embodies excellence in all the real estate disciplines involved in it creation” and is awarded by an international panel of experts who evaluate developments “with respect to such criteria as design, construction, benefit to the community, environmental impact, ease of facilities management, financial viability, marketing strategies and lifestyle improvement for its occupants.”
The only United States winner for 2008, Lakeshore East joins several past Chicago-area Prix winners and is Chicago’s only award winner in a residential category.
Past Chicago winners include University of Illinois/Chicago for public sector design/2007; Millennium Park for leisure design/2005; Northwestern Memorial Hospital specialized category/2000; AT&T Corporate Center for office/industrial design/1998.
In all, the United States has produced 12 Prix award winners since the award program’s inception in 1992.
Lakeshore East, this year’s winner in the Master Plan Design category, joins Trump World Tower in New York (2003); Harbor Point Apartments in Boston (1996) and The Woodlands in Texas (1992) as other U.S. winners in residential categories.
Lakeshore East spans 28 acres, believed to be the largest parcel of downtown land under development in a major U.S. city. This $4 billion mixed-use development that, along with Millennium Park, anchors the rapidly growing New East Side.
It incorporates all the elements of a traditional city neighborhood, a lifestyle center that includes homes, retail, recreational amenities such as a lush, 6-acre Public Park and a planned elementary school.
The master plan that completes the ambitious Illinois Center development on a strategic but difficult site variously functioning as a harbor, railroad freight yard and terminus and nine-hole urban golf course allows for the construction of up to 4,950 residences, a magnificent 6-acre public park, 2.2 million gross square feet of commercial space, 1,500 hotel rooms, 400,000 square feet of retail space and the elementary school.
Park amenities include free Wi-Fi Internet access, a children’s play park, a gated dog park, a large open meadow, water fountains, ornamental gardens and extensive seating. The crown jewel of the community, it has been named the Best New Park in Chicago by Chicago magazine and the city’s Best New Open Space by The Friends of Downtown.
Residential developments at Lakeshore East currently include six completed and occupied buildings. The include the 29-story Lancaster, the community’s first condominium building with 209 homes; The Shoreham, a 46-story apartment tower with 548 residences; The Regatta, a 44-story condominium building with 325 units; The Chandler; a 35-story condominium building with 304 condo home; 340 On The Park, a 62-story condominium tower with 344 units and the 51-story The Tides, the community’s second rental property with 607 luxury units now accepting applications.
Construction is progressing on the 82-story Aqua, which will be the first high-rise in the city designed uniquely to combine condominiums, rental apartments, hotel and retail spaces. The first phase of The Parkhomes at Lakeshore East, an enclave of 25 gracious townhomes, is also under construction. A diverse retail component of the community already includes a Fifth Third Bank facility and Café RoM gourmet coffee shop.
For additional information, please telephone the Lakeshore East Sales & Design Gallery at (312) 565-9600 or visit the Website, www.LakeshoreEast.com.
Recent Prix d’Excellence winners include:
Prix d'Excellence Winners 2007
Hotel/Leisure Development Category: Hilton Kuala Lumpur (Malaysia)
Office/Industrial Category: Cyberjaya (Malaysia)
Residential Category: Lysaker Brygge-Lysaker Quays (Norway)
Public Sector/Specialised Category: UIC: Realization of a 50-Year Plan (USA)
Retail Category: 1 Utama Shopping Centre (Expansion) (Malaysia)Master Plan Category: Setia Eco Park (Malaysia)
Prix d'Excellence Winners 2006
Hotel/Leisure Development Category: The Westin Kuala Lumpur (Malaysia)
Office/Industrial Category: HansaBanka Headquarters (Latvia)
Residential Category: Carribbean At Keppel Bay (Singapore)
Public Sector Category: Marine Terrace Breeze (Singapore)
Retail Category: Pondok Indah Mall (Indonesia)
Specialised Category: Millennium City Centre, Palace of Arts (Hungary)Master Plan Category: Kensington Banks (Australia)
Prix d'Excellence Winners 2005
Leisure Category: Millennium Park (Chicago, USA)
Office/Industrial Category: Telenor Headquarters (Fornebu, Norway)
Residential Category: l Moulmein Rise (Singapore)
Public Sector Category: South Bank Brisbane(Australia)
Retail Category: Madrid Xanadu (Madrid, Spain)
Specialised Category: Brascan Century Plaza (Sao Paolo, Brazil)New Town Development: AlphaVille Flamboyant (Brazil)
Special Mentions:
Office/Industrial Category: World Meteorological Organization (Geneva, Switzerland)
Residential Category: Queens (Singapore)
Retail Category: Aegli Shopping Center (Athens, Greece)