Wolf Point East Tower Explained

Wolf Point East Tower is the second tallest of three buildings being developed in the Near North Side community area on the Wolf Point property at a fork in the Chicago River in downtown Chicago. The building is planned to be approximately 60 stories and 660feet tall. It will have 698 units. Although originally intended to be a mixed use building when planned in 2012 and approved in 2013, the building was reenvisioned as an apartment building in 2016. Construction began in 2017 and is currently finished.

Background

On January 26, 2012, the Chicago Sun-Times broke the story that the Kennedy family was planning a three-tower development at Wolf Point.[1] [2] On May 8, 2012, Chicago Alderman Brendan Reilly announced that a three-tower proposal for Wolf Point had been made including buildings of approximately 900feet, 750feet and 525feet and that plans would be made public on May 29. In a formalization of the proposal later that year the East Tower continued to be planned at 750feet.[3] [4] By October 2016 the height of the east tower had been revised down to 675feet, and the south tower revised to 950feet.[5] The October 2016 revision was estimated to have 62 stories by on source and 66 by another.[5] [6] As of March 2017, some sources still felt the building might be 66 stories and encompass 707 apartment units,[7] but when the building permit for construction was issued on June 22, 2017, it seemed that the plans were for a 60-story, 698-unit, 6602NaN2 building.[8] By June 28, the $380 million construction project was backed by a $200 million loan led by Bank of America and construction had begun.[9] Occupancy was expected in 2019.[10]

Location

The property upon which the development was planned is historic and drew scrutiny by critics.[11] Plans for the tower development were presented as scheduled by the Kennedy family on land that they own in the River North neighborhood at the confluence of South, North, and Main Branches of the Chicago River southwest of the Merchandise Mart complex.[12] [13] [14] As plans for the Kennedy proposal were developing on the north bank of Wolf Point, a plan for a 45- to 50-story office building on the west bank called River Point were progressing according to Robert Sharoff of The New York Times.[15] Chicago Tribune Pulitzer Prize-winning architecture critic Blair Kamin felt that the initial plans presented by Christopher G. Kennedy needed some work.[16]

History

On October 30, 2012, a revised plan was presented that included more open space.[17] [18] In November the responses to the revisions were negative,[19] and Reilly withdrew the proposal on November 27.[20] The Chicago Plan Commission approved the plans for the entire three-tower development that included 1,410 residential units, 450 hotel rooms and 1,285 parking stalls on January 24, 2013.[21] [22]

In May 2013, opponents of the planned development filed suit in United States Federal Court.[23] On November 19, 2013, U.S. District Judge Amy J. St. Eve ruled that the valuable and iconic views of downtown are not something that can be constitutionally protected saying "Illinois courts do not recognize property values, air, or light as constitutionally protected property interests."[24] The Wolf Point Towers broke ground in March 2014.[25] Neighboring Wolf Point West Tower had its groundbreaking ceremony on July 18, 2014.[26] The building opened for residence on January 13, 2016.[27]

After the 48-story, 4851NaN1 Wolf Point West Tower was successfully marketed as an apartment building, the East Tower was revamped as an apartment building in 2016.[28] [29] 2016 design changes resulted in a greatly reduced footprint and use of only 660feet of the 7501NaN1 entitlement.[30]

The building was designed by Pelli Clarke Pelli & Pappageorge Haymes Partners, developed by Hines Interests and the Kennedy family with backing from the real estate investment arm of the AFL–CIO's pension.[31]

See also

External links

41.8875°N -87.6368°W

Notes and References

  1. Web site: Kennedys envision 3-tower development along Chicago River. March 12, 2014. January 26, 2012. Chicago Sun-Times. Roeder, David.
  2. Web site: Kennedy family eyeing 3-tower development on river's Wolf Point. March 12, 2014. January 26, 2012. Chicago Tribune.
  3. Web site: https://web.archive.org/web/20140312225003/http://www.suntimes.com/12408740-417/wolf-point-plan-could-include-80-story-building-alderman-says.html. March 12, 2014. Wolf Point plan could include 80-story building, alderman says. March 12, 2014. May 8, 2012. Chicago Sun-Times. Roeder, David.
  4. Web site: Developers to present plans for controversial River North site. March 12, 2014. May 8, 2012. Chicago Tribune. Kamin, Blair.
  5. Web site: More Tidbits Trickle Out About Wolf Point East (And a few about Wolf Point South). 2016-10-04. Chicago Architecture. 2016-10-05.
  6. Web site: 66-Story Wolf Point Tower To Break Ground With New Look. 2016-10-05. 2016-10-03. DNAinfo.com. Matthews, David.
  7. Web site: Kennedys seek buyer for Wolf Point apartment tower. July 6, 2017. March 8, 2017. Crain's Chicago Business. Gallun, Alby.
  8. Web site: Second Wolf Point apartment tower cleared to rise along the Chicago River. July 6, 2017. June 22, 2017. Curbed Chicago. Koziarz, Jay.
  9. Web site: Wolf Point developers land $200 million loan for 60-story tower. July 6, 2017. June 28, 2017. Crain's Chicago Business. Gallun, Alby.
  10. Web site: Construction Kicks Off at Chicago's Wolf Point East. July 6, 2017. July 4, 2017. Multi-Housing News. Baiceanu, Roxana.
  11. Web site: Wolf Point plan deserves scrutiny; Kennedy family and architect Pelli plan complex that includes 900-foot skyscraper. March 12, 2014. May 10, 2012. Chicago Tribune. Kamin, Blair.
  12. Web site: Kennedys unveil three-tower plan for Wolf Point site. March 12, 2014. May 29, 2012. Chicago Sun-Times. Roeder, David.
  13. Web site: $1 billion high-rise project proposed downtown at Wolf Point: 3-building plan, backed by Kennedys, would be biggest Chicago development since recession, financial crisis. March 12, 2014. May 30, 2012. Chicago Tribune. Kamin, Blair.
  14. Web site: First glimpse of plan for Wolf Point along Chicago River. March 12, 2014. May 30, 2012. Chicago Tribune. Kamin, Blair.
  15. Web site: Chicago Attracts New Towers With River Views. March 12, 2014. July 11, 2012. The New York Times. Sharoff, Robert.
  16. Web site: Wolf Point proposal doesn't live up to promise of its site; Kennedy family's $1 billion development, designed by Cesar Pelli, needs substantial reworking . March 12, 2014. June 3, 2012. Chicago Tribune. Kamin, Blair.
  17. Web site: Kennedy-Hines team unveils changes to plans for Wolf Point. March 12, 2014. October 30, 2012. Crain's Chicago Business. Ori, Ryan. subscription .
  18. Web site: Kennedy, developers revise plans for Wolf Point. March 12, 2014. October 30, 2012. Chicago Tribune.
  19. Web site: Wolf Point history puts scrutiny on proposed project. March 12, 2014. November 16, 2012. Chicago Tribune. Grossman, Ron.
  20. Web site: Alderman pulls Wolf Point proposal: Reilly cites last-minute changes to plan. March 12, 2014. November 27, 2012. Chicago Tribune. Grossman, Ron.
  21. Web site: https://web.archive.org/web/20130202070416/http://www.suntimes.com/business/17781567-420/wolf-point-3-tower-plan-backed-by-kennedy-family-wins-city-planners-approval.html. February 2, 2013. Wolf Point 3-tower plan backed by Kennedy family wins city planners' approval . March 12, 2014. January 24, 2013. Chicago Sun-Times. Roeder, David.
  22. Web site: Wolf Point tower development clears first hurdle. March 12, 2014. January 24, 2013. Chicago Tribune. Byrne, John.
  23. Web site: Condo owners sue to block Wolf Point project. March 12, 2014. May 31, 2013. Crain's Chicago Business. Gallun, Alby.
  24. Web site: Judge dismisses suit by neighbors to halt development at Wolf Point. March 12, 2014. November 19, 2013. Chicago Sun-Times. Janssen, Kim.
  25. Web site: After Years Of Planning, Wolf Point Construction Finally Begins. September 18, 2014. March 21, 2014. Curbed.com.
  26. Web site: Construction Begins on Wolf Point West: Luxury rental units, office, retail space and possibly a hotel planned for development. September 18, 2014. July 18, 2014. WMAQ-TV.
  27. Web site: First Wolf Point Tower Opens for Residents Amid Changing Scene Around River. 2016-10-05. 2016-01-13. DNAinfo.com. Matthews, David.
  28. Web site: Kennedys, Hines plot second Wolf Point apartment tower. April 20, 2016. August 26, 2016. Crain's Chicago Business. Gallun, Alby.
  29. Web site: Apartment tower is a promising start for Wolf Point development. August 28, 2016. May 6, 2016. Chicago Tribune. Kamin, Blair.
  30. Web site: Downtown Alderman: Wolf Point East tower will rise 660—not 750—feet. July 7, 2017. October 5, 2016. Curbed Chicago. Koziarz, Jay.
  31. Web site: Crews get to work on 60-story Wolf Point East tower. July 7, 2017. July 6, 2017. Curbed Chicago. Koziarz, Jay.

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