113 East Roosevelt
| 113 East Roosevelt | |
|---|---|
| General information | |
| Status | Approved |
| Type | Residential |
| Location | 113 East Roosevelt Road, Chicago, IL |
| Management | Crescent Heights |
| Height | |
| Roof | 829 feet (252.7 m) |
| Technical details | |
| Floor count | 76 |
| Design and construction | |
| Architect | Rafael Viñoly |
113 East Roosevelt is a skyscraper and related development planned for Chicago, Illinois in the Near South Side community area. The skyscraper is planned to have 792 apartments and rise 829 feet (252.7 m). It is designed by Rafael Viñoly as the first of a three phase development that includes an even taller 648-unit structure as the second phase and a 100-unit townhouse development with a public park as the third phase.[1] Miami developer Crescent Heights acquired the real estate for the development in 2012 for $29.5 million.[2] The development was presented in a community meeting on September 22, 2015.[1] The Chicago Plan Commission approved the development on November 19, 2015 in a meeting that also resulted in the approval of the Wanda Vista tower.[3] The building will be located on a 1-acre (4,047 m2) site.[2] Financing is a prerequisite to initial groundbreaking.[2]
The development sits adjacent to the southwest corner of Grant Park.[4] The name 113 East Roosevelt is associated with the whole three phase development and reflects the address on Roosevelt Road where Phase I of the development will occur. To its west Phase II of the development will occur and will be a residential building at Roosevelt Road and Michigan Avenue. Phase III of the development is for townhouses and a public park on Indiana Avenue to the east of the two skyscrapers.[1][2] The designs of the skyscrapers in the development will feature architectural elements that pay homage to Willis Tower.[5]
The building will be taller than any all-residential building in the city that had been completed at the time it was proposed and only be surpassed by the planned 451 East Grand as the tallest pure residential building in the city. It will also become taller than any building on the South Side of Chicago, surpassing its neighbor One Museum Park.[2] It will also become the second tallest building in the city south of the Willis Tower (assuming 1000 South Michigan also is completed).[6] Viñoly's prior work included Chicago's Booth School of Business building.[3]
Despite the financial crisis of 2007–08 and the resulting softening market in 2007, Gerald Fogelson, co-chairman and chief executive of Central Station Development Corp., had sought approval for a 73-story Grant Park Tower III at the 113 East Roosevelt location in 2008.[7][8] An 83-story Grant Park Tower IV at Michigan and Roosevelt was also planned to begin preconstruction sales in 2009.[7]
See also
References
- 1 2 3 "Pair of residential towers proposed for East Roosevelt in South Loop". Chicago Business Journal. September 23, 2015. Retrieved November 20, 2015.
- 1 2 3 4 5 Gallun, Alby (September 23, 2015). "76-story apartment tower proposed in South Loop". Crain's Chicago Business. Retrieved November 20, 2015.
- 1 2 Kamin, Blair (November 19, 2015). "Chicago Plan Commission approves tower that would be city's 3rd tallest". Chicago Tribune. Retrieved November 20, 2015.
- ↑ Kamin, Blair (October 30, 2015). "Proposed South Michigan Avenue towers appealing, but need to strike balance". Chicago Tribune. Retrieved November 20, 2015.
- ↑ Matthews, David (September 22, 2015). "'Iconic' Proposal Calls For Twin Towers, One 76 Stories Tall, In South Loop". DNAinfo.com. Retrieved November 22, 2015.
- ↑ Matthews, David (November 19, 2015). "Chicago 'Thinking Big' As 3 Ambitious Developments Clear Key Hurdle". DNAinfo.com. Retrieved November 22, 2015.
- 1 2 Diesenhouse, Susan (September 17, 2007). "Central Station developer not deterred by soft sales climate". Chicago Tribune. Retrieved December 10, 2015.
- ↑ "Grant Park Tower III". Emporis. Retrieved December 10, 2015.