Magellan Launches Leasing of Gio Midtown Apartments

Chicago-based Magellan Development Group, investor Alex Vadia and J.P. Morgan Asset Management have launched pre-leasing of their 447 apartment rentals in the nearly-completed Gio Midtown. The building is slated for competition mid quarter and will feature units ranging from 386 to 1,919 square feet. A studio will start at about $1,585 a month, one-bedroom at $1,775 a month, two-bedroom at $2,775 a month, and a three-bedroom at $3,790 a month.

The apartments feature luxury finishes like quartz countertops, kitchen islands, keyless entry, blackout shades, and sprawling terraces to promote natural light and expansive city views. Wellness enthusiasts have access to a 4,741-square-foot fitness club, a spa which includes a Himalayan salt room, sauna and steam rooms, and a meditation garden on the amenities floor.

Residents will enjoy high-touch concierge services and access to everyday conveniences. Bozzuto is managing the property.

Inspired by Italian Modernism, the project’s namesake derives from Italy’s Gio Ponti, an influential figure recognized for his architecture, furniture and object design. Celebrating Ponti’s elegant aesthetic, the façade highlights geometric, angled balconies. The building was designed by bKL Architecture LLC with contemporary interiors by Fanny Haim & Associates.

Eco-friendly renters will appreciate a bike workshop and wash station, as well as electric car chargers. A passageway at the ground level allows for meandering by locals and residents alike, with planned retail, restaurants, and activations. 

By Stephanie Warren

PROFILE Exclusive: First Look at Location Ventures New Renderings of Villa Valencia Entertainment Spaces

Villa Valencia developer Location Ventures, led by CEO Rishi Kapoor, has just released brand new renderings of the boutique project in a PROFILE exclusive. The images reveal the building’s entertainment spaces, designed to promote community and foster relationships, offering a neighborhood feel to condo living. New images include the luxe lounge & terrace, movie theatre and outdoor cucina with sweeping city views.

Recently, Villa Valencia completed $10 million in sales at record-breaking prices for the area. The project broke ground in June 2019 and will feature 39 ultra-luxury, estate-sized residences once completed. The building includes units that range from three-to five-bedrooms, spanning 2,616 to 4,267 square feet, and several penthouses. Each of the penthouses will have a private plunge pool, while every home will have deep terraces and at least one corner exposure, offering views of the city skyline and golf course.

The 13-story development is keen on presenting a refined, modern living experience that is centered on wellness. It is the first U.S. condominium to partner with Delos to offer its DARWIN Home Wellness intelligence network, which uses innovation to bring the best of natural outdoor conditions, inside. Kapoor says, "One of our core philosophies is wellness. And at Villa Valencia, we believe that the buyer sees health as the ultimate wealth, leading them to strive for a daily environment that is as healthy as their lifestyle. By providing wellness enhancing features such as air purification, circadian lighting, and water filtration through DARWIN by Delos in every residence, we are taking a stake in the expanding welltech industry to create real estate that is better for residents and fits with their day-to-day philosophies." 

In addition to the entertainment spaces, a complete amenities program will include a hammam, steam room, hydrotherapy plunge pools, his-and-her saunas, 78-foot resort-style pool with a lap lane and waterfall that is complemented by two summer kitchens and spacious sunbeds, tea room, lively entertainment room with billiards, as well as golf and driving simulators in addition to a state-of-the-art fitness center.

Villa Valencia residences start from $1.65 million.

By Stephanie Warren