This page uses content from Wikipedia and is licensed under CC BY-SA.

NEMA (Chicago)

NEMA (Chicago)
NEMAChicago.jpg
NEMA (Chicago) under construction, March 2019
General information
StatusComplete
TypeResidential
Location1210 South Indiana Avenue
Chicago, Illinois 60606
Estimated completion2019
ManagementCrescent Heights
Height
Roof896 feet (273.1 m)
Technical details
Floor count76
Design and construction
ArchitectRafael Viñoly
Structural engineerMagnusson Klemencic Associates
Main contractorJames McHugh Construction Co.
Other information
Number of units800
Parking622
References
[1]

NEMA (Chicago) (also 1210 South Indiana and formerly 113 East Roosevelt or One Grant Park) is a residential tower in Chicago, Illinois in the Central Station neighborhood, of the Near South Side. The tower, built by developer Crescent Heights, has 800 apartments and rises 896 feet (273.1 m) making it the city's tallest rental apartment building.[2][3][4] NEMA is currently the eighth-tallest building in Chicago and the forty first-tallest building in the United States. It is the tallest all-rental residential building in the city.

NEMA is designed by Rafael Viñoly as the first of a three phase development that includes an even taller 648-unit structure as the second phase and a 100-unit townhouse development with a public park as the third phase.[5][6] Building interiors are designed by David Rockwell.[7]

History

Despite the financial crisis of 2007–08 and the resulting softening market in 2007, Gerald Fogelson, co-chairman and chief executive of Central Station Development Corp., had sought approval for a 73-story Grant Park Tower III at the 113 East Roosevelt location in 2008.[8][9] An 83-story Grant Park Tower IV at Michigan and Roosevelt was also planned to begin preconstruction sales in 2009.[8] Miami developer Crescent Heights acquired the real estate for the development in 2012 for $29.5 million.[10] The development was presented in a community meeting on September 22, 2015.[6] The Chicago Plan Commission approved the development on November 19, 2015 in a meeting that also resulted in the approval of the Wanda Vista tower.[11] The building will be located on a 1-acre (4,047 m2) site once used for Illinois Central Railroad tracks in the 1960s.[12][10] On January 4, 2017, the name of the building was changed to One Grant Park after a 203 million financing loan was announced for the 792-unit, 829-foot, 76-story, luxury residential building.[13][14] In 2018, the name was changed again to NEMA, a lifestyle brand with sister buildings in San Francisco and a project in development in Boston.[15] During the second quarter of 2019, occupants began taking residence.[16][17] In mid-2019 Crescent Heights refinanced its original construction loans with KKR Real Estate Finance Trust in order to lower its interest rates by about 80 basis points. By that time, 35 percent of the apartments had been leased.[16]

The development sits adjacent to the southwest corner of Grant Park.[18] Originally, the name 113 East Roosevelt was associated with the whole three phase development and reflects the address on Roosevelt Road (at the corner of Indiana Avenue) of Phase I of the development. To its west Phase II of the development will occur and will be a residential building at Roosevelt Road and Michigan Avenue. Phase III of the development is for townhouses and a public park on Indiana Avenue to the east of the two towers.[6][10] The designs of the towers in the development will feature architectural elements, such as “square structural bays of varying stacked heights” that pay homage to Willis Tower.[19][20] An alternate address for the location is 1210 South Indiana Avenue.[13]

The building is the tallest residential apartment tower in Chicago.[21][22] It is taller than any building on the South Side of Chicago, surpassing its neighbor One Museum Park.[10]

The building has 70,000 square feet of amenities, including an outdoor Grant Park and Lake Michigan viewing platform; co-working space; a fitness center and spa with basketball, squash, yoga and a regulation-size boxing ring; golf simulator; indoor / outdoor swimming pool; game room; kids room; and a private dining ballroom.[23]

See also

References

  1. ^ "One Grant Park". Skyscraper Center. CTBUH. Retrieved August 11, 2017.
  2. ^ Latrace, AJ (April 8, 2019). "Chicago's New Tallest Apartment Building Is Open for Business". Chicago Magazine. Retrieved April 30, 2019.
  3. ^ O’Brien, John (April 26, 2019). "Rising up: Here are Chicago's 10 tallest towers in the works". The Real Deal. Retrieved April 30, 2019.
  4. ^ "New images of NEMA Chicago, Rafael Viñoly's skyline-changing tower". Curbed Chicago. November 28, 2018. Retrieved December 19, 2018.
  5. ^ "Rafael Viñoly updates NEMA Chicago skyscraper design". Dezeen. Retrieved April 29, 2019.
  6. ^ a b c "Pair of residential towers proposed for East Roosevelt in South Loop". Chicago Business Journal. September 23, 2015. Retrieved November 20, 2015.
  7. ^ Koziarz, Jay (January 8, 2019). "New interior renderings of NEMA Chicago, the city's tallest rental building". Curbed Chicago. Retrieved February 20, 2019.
  8. ^ a b Diesenhouse, Susan (September 17, 2007). "Central Station developer not deterred by soft sales climate". Chicago Tribune. Retrieved December 10, 2015.
  9. ^ "Grant Park Tower III". Emporis. Retrieved December 10, 2015.
  10. ^ a b c d Gallun, Alby (September 23, 2015). "76-story apartment tower proposed in South Loop". Crain's Chicago Business. Retrieved November 20, 2015.
  11. ^ Kamin, Blair (November 19, 2015). "Chicago Plan Commission approves tower that would be city's 3rd tallest". Chicago Tribune. Retrieved November 20, 2015.
  12. ^ Brown, Terrell (April 26, 2019). "Chicago Uncovered: NEMA Chicago". WLS-TV. Retrieved April 30, 2019.
  13. ^ a b Ory, Ryan (January 4, 2017). "Grant Park apartment tower gets $203 million construction loan". Crain's Chicago Business. Retrieved January 6, 2017.
  14. ^ "One Grant Park, Future Tallest Skyscraper South of Willis Tower, Underway". DNAinfo Chicago. DNAinfo Chicago. Archived from the original on January 5, 2017. Retrieved January 5, 2017.
  15. ^ Speros, Will (March 29, 2019). "Residential Concept NEMA Expands U.S. Footprint". Hospitality Design. Retrieved April 29, 2019.
  16. ^ a b Gallun, Alby (July 1, 2019). "Unfinished South Loop skyscraper scores $340 million loan". Crain's Chicago Business. Retrieved July 11, 2019.
  17. ^ Gallun, Alby (May 28, 2019). "Downtown Chicago apartment market's hot streak continues". Crain's Chicago Business. Retrieved July 11, 2019.
  18. ^ Kamin, Blair (October 30, 2015). "Proposed South Michigan Avenue towers appealing, but need to strike balance". Chicago Tribune. Retrieved November 20, 2015.
  19. ^ Miller, Linda G. (March 6, 2019). "In The News". aiany.org. Retrieved April 29, 2019.
  20. ^ Matthews, David (September 22, 2015). "'Iconic' Proposal Calls For Twin Towers, One 76 Stories Tall, In South Loop". DNAinfo.com. Archived from the original on November 20, 2015. Retrieved November 22, 2015.
  21. ^ Moscop, Susan (January 7, 2019). "Chicago's tallest rental residences: High-tech living with a local touch". Chicago Tribune. Retrieved January 10, 2019.
  22. ^ Koziarz, Jay (July 17, 2019). "A first peek inside NEMA Chicago, the city's tallest rental building". Curbed Chicago. Retrieved July 17, 2019.
  23. ^ Flamer, Keith (March 28, 2019). "Amenity-Rich NEMA Towers Rise In Chicago And Boston". Forbes. Retrieved April 28, 2019.

External links