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News » US » Chicago Tower to Break Ground this Summer » published 3 May 2016

Chicago Tower to Break Ground this Summer

Chicago Mayor Rahm Emanuel, Magellan Development Group and Beijing-based Wanda Group have announced that the 95-story Vista Tower is set to break ground this summer.

The tower, which is designed by architect and Chicago native Jeanne Gang, will be the third-tallest building in Chicago. The project is expected to create more than 2,000 construction jobs and more than 500 permanent jobs and will be the largest-ever real estate investment by a Chinese company in Chicago, and one of the largest in the United States.

“The Vista Tower will be more than one of the tallest buildings in Chicago, it will stand tall as a testament to Chicago’s status as a global destination for investment, commerce and tourism,” said Emanuel said. “This project will also create thousands of jobs, benefiting every neighborhood in the city of Chicago.”

Late last week a joint venture between affiliates of Magellan Development Group and the international Dalian Wanda Group finalized the purchase of the land where the Vista Tower will rise. The acquisition was the final major step before construction can begin. The tower will include 406 residential units and the five-star Wanda Vista hotel.

The building, which will stand nearly 1,200ft tall, will be applying for LEED silver certification.

 

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This article was published on 3 May 2016 (last updated on 3 May 2016).

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