Construction has officially kicked-off on the 93-story, highly-anticipated new Vista Tower, along Wacker Drive.
Due to be the third tallest building in Chicago, Vista Tower is a joint venture between Magellan Development Group, led by co-CEO’s Joel Carlins and Jim Loewenberg, and the Beijing-based Dalian Wanda Group. The Jeanne Gang-designed structure is comprised of Vista Residences, with more than 400 condominiums starting at $1 million, and a five-star Wanda Vista Hotel that will include approximately 200 hotel rooms, which is the first branded Wanda Hotel location in the U.S.
“A little over three years ago we embarked on a global expansion program to develop iconic, luxury residential and hotel projects in leading cities around the world,” said Chen Guocai, Vice President of Dalian Wanda Group. “As we looked for suitable sites in the US, we quickly recognized the wonderful opportunities that exist in Chicago and are extremely honored that our first U.S Dalian Wanda Hotel project will be in your great city.”
The Vista Residences offers views of the city and Lake Michigan and provides a unique high-rise living experience with luxurious interiors and private amenities at Club Vista, located on the 47th floor. The club includes a private dining room and demonstration kitchen, a wine storage facility, game room, theater, fitness room, and an expansive outdoor terrace with fire pit, hot tub and an outdoor pool. Unlike other luxury residences in Chicago, residents can also utilize the indulgent amenities of the adjacent 5-star Wanda Vista Hotel in addition to their own amenities at Club Vista.
Preparation for construction began in mid-August and the residential development is creating more than 2,000 construction jobs and more than 500 permanent jobs. Magellan is working with McHugh Construction Co., a Chicago-based general contractor, for the development of Vista Tower and have worked with the company on a number of past residential projects, including the Jeanne Gang-designed Aqua tower.
“Considered one of the most innovative residential developments in Chicago to date, Vista Tower is a strong investment in our community and will represent increased connectivity for both Chicago and the Lakeshore East neighborhood,” said Alderman Brendan Reilly. “The residential community, Magellan Development, and I have collaborated, and will continue to work together, to ensure the project promotes balanced, responsible growth and sustains the integrity of its community through the entire development process.”
Pedestrian and automobile improvements will also be made to Vista’s surrounding area, including an extension of East Upper Wacker Drive connecting to Waterside Drive as well as a newly enhanced access point between the Lakeshore East Park and the Chicago Riverwalk.
“I believe that Vista will be a powerful beacon in Chicago, changing the way people view and think about skyscrapers and their relationship to the waterfront,” said Jeanne Gang, Founding Principal of Studio Gang. “While Vista is unique in Chicago’s skyline, this building will create a powerful dialogue with the city, the river, and the lake, providing a much-needed connection between Lakeshore East and downtown Chicago.”