Waldorf-Astoria Hotel and Residence Tower
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This article or section contains information about expected future buildings or structures. Some or all of this information may be speculative, and the content may change as building construction begins. |
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| Waldorf-Astoria Hotel and Residence Tower | |
Rendering of the proposed building, standing adjacent to the existing NBC Tower |
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| Information | |
|---|---|
| Location | Chicago, Illinois |
| Status | Announced[1] |
| Groundbreaking | 2009 (est.) |
| Estimated completion | 2012 |
| Use | Residential/Commercial[1] |
| Height | |
| Antenna/Spire | 1,265 ft (386 m)[2] |
| Roof | 1,200 ft (366 m)[2] |
| Floor count | 107[1] |
| Companies | |
| Architect | DeStefano & Partners |
| Developer | The Prime Group[1] |
Waldorf-Astoria Hotel and Residence Tower is an announced hotel and condominium skyscraper that will be 1,265 feet (386 m) tall[2] and be located in Chicago, Illinois, United States. The Prime Group will be developing the project at a cost of $500 million. The building will be located one block from the Chicago River,[1] and will be located north of the Sheraton Chicago in the Streeterville neighborhood of the Near North Side community area of Chicago.[3] The building's developers, the Fordham Company, were the initial developers of the Chicago Spire.[1]
The building would be among the tallest buildings in Chicago since only the Sears Tower currently stands taller than 1,200 feet (366 m). The building would surpass both the Aon Center and the John Hancock Center in height. Only two taller buildings are under construction in the city: the Chicago Spire and the Trump International Hotel and Tower. In fact, it would be among the tallest buildings in the world, since fewer than 15 buildings in the world exceed 1,200 feet (366 m).
[edit] Plans
If completed, the proposed hotel portion of the building will be managed by Waldorf-Astoria, a Hilton Hotels Corp. brand, as part of a larger strategy of limited national expansion of its legendary Manhattan name. Within this plan, other Waldorf-Astorias are planned or under construction in Beverly Hills, California, and Orlando, Florida.[3] This management agreement is currently a verbal commitment.[4]
The current plans include a 325-room hotel and 300 luxury condominiums.[1][3] The building, which will be 107 stories,[2] was designed to salute the Chicago Spire, but not imitate it. It will have a traditional square base and taper to a scalpel shaped top.[3] Currently, the plan is to aim for a three year construction period starting in 2009 with sales targeted at $800/square foot instead of the $1200 range that the Spire targets. The building was designed to adhere to current trend in Chicago architecture that taller thin buildings are favored to shorter buildings providing the same square footage because the slender buildings block fewer views.[3]
The building has yet to obtain the necessary approvals from the city. The current environment is challenging because of the numerous recent building approvals and the likely complications with the extant proposal for the nearby 48-story condominium building on the same 2.2-acre (8,903 m²) block. The building was planned to be shown to the Streeterville Organization of Active Residents, the Streeterville area's leading civic group during the first week of October.[3]
Reschke's Prime Group is developing several other properties in Chicago including 10 E. Delaware Place and the Roanoke building.[5][6]
[edit] Notes
- ^ a b c d e f g Forsyth, Jennifer S. (2007-10-01). Developer Tries Comeback With New Chicago Waldorf. The Wall Street Journal. Daily Herald. Retrieved on 2008-05-28.
- ^ a b c d CHICAGO: Waldorf-Astoria - 1,265' Official / 1,200' Roof - 107 floors. Skyscraperpage.com. Jelsoft Enterprises Ltd.. Retrieved on 2007-09-28.
- ^ a b c d e f Roeder, David. "A kid bro in Spire's shadow", Chicago Sun-Times, Sun-Times News Group, 2007-09-28. Retrieved on 2007-10-02.
- ^ Waldorf-Astoria Proposed Near Spire. BestChicagoCondos.com (2007-09-28). Retrieved on 2007-10-02.
- ^ Baeb, Eddie (2007-07-27). Reschke to sell some retail space to Talbott Hotel. ChicagoBusiness. Crain Communications, Inc.. Retrieved on 2007-09-28.
- ^ Baeb, Eddie (2007-08-10). Reschke refinances Roanoke Building ahead of renovation. ChicagoBusiness. Crain Communications, Inc.. Retrieved on 2007-09-28.
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