The first U.S. real-estate investment by The Wanda Group, owned by China’s richest man, will be an 88-story, 1,148-ft-tall mixed-use tower, the third-tallest in Chicago, which Wanda Group selected over New York and Los Angeles. Groundbreaking is scheduled for 2016.
The $900 million tower, to be situated on 28 acres along East Wacker Drive, will be designed by Jeanne Gang of Chicago-based Studio Gang Architects, according to the Chicago Tribune's Blair Kamin.
The building will include a 250-room five-star hotel, 390 condominiums and about 9,000 sf of retail space.
The ABC News affiliate in Chicago reports that this project will create more than 2,000 construction jobs and 500 permanent jobs.
Related Stories
Multifamily Housing | Jan 27, 2021
2021 multifamily housing outlook: Dallas, Miami, D.C., will lead apartment completions
In its latest outlook report for the multifamily rental market, Yardi Matrix outlined several reasons for hope for a solid recovery for the multifamily housing sector in 2021, especially during the second half of the year.
Modular Building | Jan 26, 2021
Offsite manufacturing startup iBUILT positions itself to reduce commercial developers’ risks
iBUILT plans to double its production capacity this year, and usher in more technology and automation to the delivery process.
Architects | Jan 26, 2021
Perkins&Will and AIA set stage for industry adoption of Justice, Equity, Diversity, and Inclusion (J.E.D.I) programs
A new white paper provides U.S. architecture firms with clear guidance on establishing just, equitable, diverse, and inclusive work cultures.
Data Centers | Jan 21, 2021
The Weekly show, Jan 21, 2021: Data centers in a pandemic world, and LGBT certification for AEC firms
This week on The Weekly show, BD+C editors speak with AEC industry leaders about LGBT certification for architecture, engineering, and construction firms, and the current state of data centers in a pandemic world.
Multifamily Housing | Jan 20, 2021
Abandoned Miami hospital gets third life as waterfront condo development
The 1920s King Cole Hotel becomes the Ritz-Carlton Residences Miami in the largest residential adaptive reuse project in South Florida.
Market Data | Jan 19, 2021
2021 construction forecast: Nonresidential building spending will drop 5.7%, bounce back in 2022
Healthcare and public safety are the only nonresidential construction sectors that will see growth in spending in 2021, according to AIA's 2021 Consensus Construction Forecast.
Multifamily Housing | Jan 14, 2021
The Weekly show, Jan 14, 2021: Passive House innovations, and launching a design studio during the pandemic
This week on The Weekly show, BD+C editors speak with AEC industry leaders about innovations in Passive House design, and the challenges of building a design team and opening a new design studio during a pandemic.
Multifamily Housing | Jan 8, 2021
Student housing development in the time of COVID-19
Despite the coronavirus pandemic, many college and university residences were completed in time for classes, live or virtual. Here are 14 of the best.
Contractors | Jan 7, 2021
The Weekly show, Jan 7, 2021: Preconstruction boot camp, and leadership strategies for navigating a challenging market
The January 7 episode of BD+C's The Weekly is available for viewing on demand.
Architects | Jan 5, 2021
Ware Malcomb finds itself in the mix for multiple diverse projects
Its latest completion is an office/factory/warehouse combo for one of Marvin Window’s brands.
