May 01–City officials have unveiled plans for a hotel with more than 200 rooms on the east end of Navy Pier, an idea that was part of a long-term vision put forth in 2011 to remake the lakefront attraction.
The city said the project is being developed and managed by Rosemont-based First Hospitality Group and will be privately financed.
"The developer is finalizing the financing for this project. There will be no public money in it," Navy Pier spokeswoman Tammy Chase said.
The $90 million, five-story hotel would be built above the south-facing Festival Hall terraces and anchor the pier's east end entertainment district. The design is from Chicago architect Jackie Koo, who designed the Wit hotel at State and Lake streets.
According to the city, construction would begin next year and the project would be done by late 2018.
"For the first time in the history of this landmark, Navy Pier can offer guests the opportunity to actually spend the night on the pier … the views of the pier, the city, the water — you don't have that right now," Chase said.
A former municipal pier and naval training center that was the brainchild of iconic city planner Daniel Burnham, Navy Pier had become a dilapidated eyesore until a renovation in the 1990s under then Mayor Richard M. Daley. The result was sometimes criticized as a garish theme park, an assessment the 2011 long-term plan was meant to overcome.
"The goal of the whole pier redevelopment is re-attracting local residents as well as growing tourism," Chase said.
"Right now I think there's a perception in Chicago among many who know the pier, it's in their backyard, it's loved but maybe it's something they only visit when their family comes in town and wants to go to the pier. We want you to want to go to the pier and rediscover it."
