Chances are you know Equinox as a fitness center chain that offers consumers state-of-the-art workout facilities all over the U.S., but according to recent reports, it looks like the New York-based company is planning to get into the hotel business as well.
A project that was originally proposed by Related Midwest, Equinox is looking to open a 145-room hotel with the same name over at 723-729 W. Randolph, right in the heart of Chicago’s West Loop. Related Midwest originally planned to develop around 100 new condos at the site, however, the new plan is to build a hotel-condo combination, with about 20 condo units above the hotel space.
As noted by Crain’s, Equinox went public earlier in 2015 and plans to expand its brand into the hospitality industry by opening a new hotel chain that specifically caters to health-conscious travelers. The first of the company’s hotels is being planned for Manhattan’s Hudson Yards development, which should be open sometime in 2018.
For now, the goal is for Equinox to one day reach 75 hotels worldwide.
Developers behind the new healthy hotel project are still seeking approval and a zoning change from the city that would allow a hotel at 723-729 W. Randolph, so at best, we’re still a long way from the project coming to fruition. One concern for local West Loop residents is that added traffic a hotel would inevitably bring to Randolph Street, however, it would no doubt bring plenty of new jobs to the West Loop as well, not to mention additional business to all of the restaurants, bars, and cafes that make up Chicago’s Restaurant Row.
As of now, the plan also call for 14 parking spots condo owners and roughly 86 parking spots for the hotel.