Aqua finally has an operator for its 15 hotel floors, says Blair Kamin. Magellan Development will make an announcement about the tenant in the next few days.
Long story short: Strategic Hotels & Resorts backed out of Aqua in fall 2008. Last May Crain’s reported that Kimpton Group Holding was in talks to take on the hotel operations. Very little has leaked out since.
Plans in the past have called for 210 suites, a 20,000-square-foot ballroom with an outdoor terrace, 30,000 square feet of conference and meeting space, and services for the residents in Aqua’s rental apartments and condos.