Phoenix Development Partners is redeveloping a historic building across the street from Willis Tower into a 349-room hotel. The building is the former City Colleges of Chicago headquarters bat 226 W. Jackson Blvd. Phoenix will set to work immediately gutting the interior of the 14-story landmark with an 18-month construction timeline to build out a dual-brand Hilton: The property will be split between a 135-room Hilton Garden Inn on its lower floors and the first Chicago location of the hotel chain’s more upscale Canopy by Hilton brand, which will have 214 rooms above. The project includes Phoenix and Green Door Capital Investments, its partner in the venture. Phoenix will invest $100 million-plus to redevelop the 238,000-square-foot building. Phoenix CEO is John Mangel. Green Door Principal is Matt Gilbert. Phoenix will add a new rooftop restaurant and meeting space to the Jackson building, and the hotels will be managed by Aimbridge Hospitality.
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