Skyscraper junkies rejoice, it’s official: construction on Studio Gang’s 93-story supertall Vista Tower is moving forward. According to Crain’s, an announcement from Mayor Rahm Emanuel is expected today and will reveal plans to break ground as early as
next month July.
While Magellan Development and Chinese partner Dalian Wanda Group officially opened their slick sales center on April 4th to market the Vista’s 405 luxury residences, they have since been mum on the precise number of units sold. Obviously pre-sales have gone quite well, reaching the critical point where the development team is confident to officially green-light the tower’s construction, which is anticipated to take four years.
At 1,186 feet the Vista Tower will become Chicago’s third tallest building and the city’s second highest roof since, unlike Trump International Hotel & Tower, Gang’s design does not rely on a thin spire to reach its ultimate height. In addition to its luxury condos, the Vista will also include a Wanda-branded high-end hotel as well as new connections between the Lakeshore East neighborhood, Wacker Drive, and the Chicago Riverwalk.
According to the Emanuel administration the new tower will yield 2,000 temporary construction jobs and 500 permanent positions on top of millions of dollars in annual property and hotel tax.
- Construction to begin on Vista Tower [Crain's]
- A Closer Look at Jeanne Gang's Planned 93-story Vista Tower [Curbed Chicago]
- What the Studio Gang-Designed Wanda Vista Supertall Means for Chicago [Curbed Chicago]
- Previous Lakeshore East Coverage [Curbed Chicago]