EAST MOLINE, IL – The Bend, the 132-acre multi-use development project on the scenic Mississippi Riverfront in East Moline, is ready for action and construction in the New Year.
The current team of co-developers -- Dan Murphy and Jim Russell -- and key area construction specialists are implementing a comprehensive riverfront development vision on the former Case-New Holland site.
“We’re ready to turn the page. We’re ready to turn vision into action now,” said Dan Murphy. “We will begin construction on both the co-branded Hyatt House and Hyatt Place Hotel and new apartments, which will ultimately unleash other parts of the redevelopment of this site.”
Murphy said both the hotel and apartments are set to open in the spring of 2018. Financing and pre-site engineering for both projects are complete.
"With a once-in-a-lifetime chance to build an exciting development on the scenic Mississippi River, we are excited this afternoon to kick start our riverfront initiative," said co-developer Jim Russell. “The New Year will be defined by action and progress on the riverfront in East Moline.”
These actions will come on the heels of tonight’s East Moline City Council approval of the final plat map that will flash a green light to moving forward with the hotel, apartments and development infrastructure in the New Year.
Murphy noted that the co-branded Hyatt House and Hyatt Place Hotel will be a nine-story, 230-room hotel with a restaurant and lounge, overlooking the Mississippi River.
Murphy said the Hyatt Corporation worked closely with the Great River Property Development Team to redesign the Hotel, resulting in the exciting addition of a 9th floor restaurant and lounge overlooking the Mississippi River. "The view from that restaurant and lounge will be spectacular," added Murphy.
In addition, there will be 108 new apartments developed – each with a Mississippi River view and modern amenities like Wi-Fi, a club house and a swimming pool. Evergreen Management Corporation will manage the apartment initiative, which will include climate-controlled parking for residents.
Russell estimated that the combined price tag for the hotel, apartments and infrastructure will reach $76.5 million. “In addition to creating an exiting riverfront destination on the mighty Mississippi River, we will be creating new jobs and economic development in the Quad Cities,” noted Russell.
Tim Knanishu, Executive Vice President of REDEEM, said the unique waterfront development will be situated strategically for growth. “This site, down the shoreline from Chicago-to-the-Quad Cities passenger rail and the Q Multi-Modal Station, the I-Wireless Center, the new I-74 corridor and Western Illinois University-Quad Cities Riverfront Campus, will be part of a vibrant riverfront community,” he said. “We know that waterfronts are providing creative and popular spaces for public and private use. Our goal is to create a high-quality destination for people throughout the Quad Cities region and beyond.”
Knanishu also said that the unique riverfront location, combined with the cool amenities of the hotel and apartments, will draw young professionals in the region. “We fully anticipate that the amenities of the Bend – the riverfront location, swimming pool, restaurant, lounge, green space -- will be a strong magnet for young professionals throughout the Quad Cities and beyond because this development will have a strong `cool’ factor,” said Knanishu.
“This is a game-changer for the region and a catalyst for redefining the riverfront,” added Knanishu. “We’re setting a new standard on the Mississippi River in East Moline. This is very, very exciting.”
NOTE TO REPORTERS
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