Towers on tap in Chicago, Honolulu, L.A.
Residential Skyscraper Taking Shape in Chicago
A 47-story, 535-ft.-tall residential skyscraper designed by Chicago’s Papageorge Haymes Partners is taking shape in the city’s Streeterville neighborhood at 465 N. Park, Curbed Chicago reported. The source also noted its curved design will contrast nicely with the area’s primarily rectangular buildings. It will have 444 luxury rental units, 11,650 sq. ft. of retail/commercial space and amenities that include a 37th-floor sky terrace. Monthly rent will start at approximately US$2,800.
Pair of 46-Story Residential Towers Distinguish L.A. Project
With US$1 billion in financing secured, the developer of the Century Plaza Hotel property in Los Angeles hoped to start construction over the summer on what is expected to include two 46-story, residential skyscrapers, a 400-room hotel and 100,000 sq. ft. of retail, The Real Deal reported. The developer is Woodridge Capital Partners CEO Michael Rosenfeld’s Next Century Partners, and the architect is Pei Cobb Freed Partners, along with an array of consultants. Hyatt formerly operated the hotel on the property, but a new operator will be named once redevelopment is complete.
Kapiolani Residence Moves Forward in Honolulu
South Korean developer SamKoo Development held a groundbreaking in July for its 45-story, 484-unit residential tower Kapiolani Residence on Kapiolani Boulevard in Honolulu, Pacific Business News reported. Approximately 60% of the units in the US$200-million tower are set to “affordable,” starting at US$272,000 each, with the remainder market priced. On the ground, there will be 3,500 sq. ft. of retail geared toward tenants. SamKoo reports sales have been strong and hopes to start another tower nearby with almost identical height and capacity. Kapiolani Residence is scheduled for completion in summer 2018.