May 9, 2007 9:39 pm US/Central
City Council OK's Plan For Chicago Spire
Building Would Be Nation's Tallest
CHICAGO (AP) ―
A 150-story lakefront tower that would be the nation's tallest building is a step closer to reality.
The City Council on Wednesday approved a zoning change that clears the way for construction on the 2,000-foot, twisting Chicago Spire to start later this month. The Chicago Park District also approved the transfer of two parcels on the north bank of the Chicago River to the city.
The completed structure would unseat the city's 1,451-foot Sears Tower as the tallest building in the United States. The spire would also be taller than New York's 1,776-foot Freedom Tower, currently under construction at the former World Trade Center site.
The building, which will be located near the intersection of the Chicago River and Lake Michigan, will feature a four-story transparent glass lobby and 1,200 residences, according to Kim Metcalfe, a spokeswoman for developer Shelbourne Development Ltd. of Ireland.
"The Chicago Spire will be the world's most celebrated address, and we look forward to beginning construction in a matter of weeks," said Garrett Kelleher, the executive chairman of Shelbourne.
The tower was designed by Santiago Calatrava. The Spanish-born architect designed the Athens Olympic sports complex and the Milwaukee Art Museum addition.
The property transfer to the city from the park district will allow Shelbourne to use the land temporarily as a staging area for construction, which is scheduled to be completed by late 2010. Kelleher has committed $9 million to develop a park on the land once construction is finished.
Financial hurdles remain for the project, which experts estimate will cost more than $2 billion. Shelbourne has not made financing plans public.
The world's tallest building is the Taipei 101 tower in Taiwan. It measures 1,671 feet and 101 floors. A tower in Dubai currently under construction is expected to rise beyond 2,300 feet and more than 160 floors.
(© 2007 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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