Chicago’s skyline is getting a new addition with the construction of a 76-story apartment tower at the southern end of Grant Park. DNAinfo reports that this building will be the tallest …
Chicago’s skyline is getting a new addition with the construction of a 76-story apartment tower at the southern end of Grant Park. DNAinfo reports that this building will be the tallest south of Willis Tower, comprising 792 units. This project is one of two towers planned by Miami developer Crescent Heights.
“To have the opportunity to bookend this remarkable open space is a responsibility that we continue to be aware of every day,” project architect Rafael Viñoly said in a statement, according to DNAinfor. “One Grant Park takes on the structural clarity, and the logic of purpose, that characterizes Chicago’s great high-rise building tradition.”
In a recent Urban Land Institute survey, 50% of respondents said that walkability was either the top or a priority when choosing where to live. Many professionals are looking to downtown Chicago, as the city has been ranked the sixth most walkable city in the United States. With its park-side location, the South Loop is one of the fastest growing neighborhoods in Chicago and this project will house those flooding to the area, according to DNAinfo.
“We’re excited to begin construction on a building that will deliver an exceptional living experience befitting — and named after — this coveted location alongside Grant Park,” Crescent Heights Managing Principal Bruce Menin said in a statement, according to Chicago Business.
DNAinfo reports that the city is also planning to construct several other towers in the area, including a 73-story tower that will be at 1000 S. Michigan Ave. As developers continue to pull buyers toward cities, the $900 billion construction market may be commissioned to build more towers like this. Ron Caplan, the president of PMC Property Group, said in a statement to CNBC that this push is being filled by those working in cities. Caplan works with development in Pittsburg, Baltimore, and Columbia S.C.
“So far the development that we’ve done has been embraced by a continuing larger population,” he said. “We have found that the buildings continue to fill up.”
Construction of the project is already underway, according to DNAinfo. Building projects like this almost always require structural shoring to keep workers safe and expedite the process. When using any of the three types of shoring (inclined, horizontal, or vertical) crews can responsibly work on a tower that is still in use. This construction in particular is funded by a $203 million loan.
One Grant Park is projected to open in early 2019.