Jul 19, 2006 9:47 pm US/Central
Chicago To House Tallest Building In North America
Project Formerly Known As Fordham Spire Will Be Built By Irish Developer
CHICAGO (CBS) ―
An Irish developer is set to build the tallest building in both North America and Europe right here in Chicago.
It was announced Wednesday that Garrett Kelleher, executive chairman of Shelbourne Development Ltd & the Shelbourne Group, has signed a deal and acquired the land on which the project formerly known as the Fordham Spire will sit at 400 N. Lake Shore Drive.
Although the building's name will change, the original design by famed architect and engineer Santiago Calatrava will remain the same, a press release states.
Chicago has already approved zoning plans for the 124-story, $1.2 billion development. The building will house 300 luxury condominiums and a five-star, 20-story hotel. According to the release, retail and support space is also planned for the part of the building near the Chicago River and Lake Michigan.
The developer, Garrett Kelleher, has a special connection to Chicago. He arrived in Chicago in 1986 with only $500 and lived here for 10 years as he worked his way up from being a subcontractor to a developer. He says two of his kids were born here before he returned to Ireland in 1996 with his family.
"I'm very excited to have the opportunity to contribute to the Chicago skyline and look forward to developing a property that the city and the Mayor can be proud of," he said in the release.
Construction is slated to begin in early 2007. It is expected to be complete by late 2010.
(© MMVI, CBS Broadcasting Inc. All Rights Reserved.)
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