Canyon Ranch Living Chicago cancelled
The Canyon Ranch Living property in Chicago, US, has been called off.
Developed by Related Midwest and managed by Canyon Ranch, Canyon Ranch Living Chicago was to be a residential community dedicated to healthy living. The first city-centre application of the Canyon Ranch Living concept, it was scheduled to open in 2010 with a 65,000sq ft (6,040sq m) spa, designed by Robert D Henry Architects.
Canyon Ranch president Kevin Kelly said: “This development included a fixed closing date established prior to the changes in the Chicago and US real estate market.
“Faced with the current environment, Related Midwest and the owners of the property, Episcopal Diocese of Chicago, have mutually decided not to extend the current ground lease agreement. Canyon Ranch continues to explore suitable opportunities to extend its wellness lifestyle brand and philosophy in the US and abroad.”
The inaugural Canyon Ranch Living development, in Miami Beach, US, will fully open in October 2008. It is built on a six-acre, ocean-front site.
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