MONTCLAIR, NJ—The Pinnacle Companies have unveiled a joint venture with The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, to develop The MC hotel here.
The Chicago-based Aparium Hotel Group will manage the 148-room luxury boutique hotel, which will break ground this spring and include a rooftop bar, farm-to-table restaurant, conference center and public art atrium.
“We are proud to partner with The Pinnacle Companies on this project and bring the first new, full-service hotel to Montclair since the Hotel Montclair closed in 1938,” stated Norman A. Feinstein, vice chairman of The Hampshire Companies. “Montclair continues to undergo a dramatic resurgence, and its vibrant culture and community played a lead role in Marriott International selecting it for its renowned Autograph Collection portfolio.”
The Hampshire/Pinnacle team will submit final construction plans in March, with an anticipated spring groundbreaking.
“We’re thrilled to be partnering with The Hampshire Companies, one of the most respected real estate investment firms in New Jersey for several decades,” stated Brian M. Stolar, president and CEO, The Pinnacle Companies.