Crescent Heights Wants to Build Twin Towers in South Loop
Crescent Heights' first ground-up development in Chicago is certainly ambitious and possibly record-setting. The Miami-based firm is proposing building twin multifamily towers in the South Loop. The buildings, designed by architect Rafael Viñoly, would feature a terraced structure inspired by Willis Tower. One would rise 76 stories.
If approved by the city, the planned development at 113 E Roosevelt would be the tallest buildings in the city south of Van Buren Street. The 76-story building would house 792 apartments, while the slightly smaller structure would feature 648 condos. The proposal also calls for 100 townhomes and a public park near Indiana Avenue.
Crescent Heights is bullish on the South Loop residential market. It owns over 5,000 units in the area. The Miami-based firm paid $126M for Burnham Pointe at 736 S Clark in June, one of the largest multifamily building sales of 2015. [DNA]