US-based real estate development and management company The Howard Hughes (HHC) has secured approval to construct its new office building at 110 North Wacker Drive, Chicago.
HHC will collaborate with Riverside Investment & Development, Goettsch Partners and CBRE to construct the new 51-storey trophy-class tower.
The 1.35 million ft² tower is set to be designed by Goettsch Partners, and will feature an aluminium-and-glass curtain wall and amenities such as retail and dining options, a conference centre, a fitness facility and building systems.
HHC president Grant Herlitz said: “This project is generating a tremendous amount of tenant interest in this one-of-a-kind building.
“With Riverside, Goettsch Partners and Drew Nieman’s group from CBRE, we have assembled a team with a proven track record for creating iconic office buildings in Chicago. We are pleased to be advancing through the city process and look forward to next steps.”
The new building will take about two and a half years for construction. HHC is yet to finalise a construction start date.
The project includes a voluntary payment of $19.55m into the city’s neighbourhood opportunity bonus system due to the size and scale of the development.
Eighty percent of the completed payment will be allocated to the neighbourhood opportunity fund in order to support commercial corridor improvements in underserved neighbourhoods.
The remaining sum will be used to support designated landmarks across the city, as well as infrastructure improvements near the development site.
Image: 110 North Wacker Drive, Dusk, Photo: © Goettsch Partners/ Businesswire.