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Old June 9th, 2014, 11:16 AM   #10141
iloveclassicrock7
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Quote:
Originally Posted by ThatOneGuy View Post
Actually, no he wasnt. I don't think there was ever an 'original' Chicago WTC design.

I'm guessing the spireless one is the final design, in which case to me it is perfect for Chicago as a landmark, because it complements well the characteristic muscularity of the skyline.
I definitely remember seeing an older design for the CWTC, but I could be wrong. And yes, the spireless one is final
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Old June 11th, 2014, 05:23 AM   #10142
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Quote:
Originally Posted by iloveclassicrock7 View Post
I definitely remember seeing an older design for the CWTC, but I could be wrong. And yes, the spireless one is final
There were two cwtc designs you can see them in the SSP diagrams for Chicago if you search canceled projects.
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Old June 11th, 2014, 06:59 AM   #10143
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Quote:
Originally Posted by rlw777 View Post
There were two cwtc designs you can see them in the SSP diagrams for Chicago if you search canceled projects.
Yeah, this is it

[IMG]https://encrypted-tbn0.************/images?q=tbn:ANd9GcTTJoWfgMUR2-gn8iYJqYXXHde-A2PNneR5RovNsE3rm7uDIosQ[/IMG]
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Old June 11th, 2014, 07:04 AM   #10144
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Okay enough about Chicago WTC, I keep thinking there's news on this thread but it's been the CWTC for the past page and a half now.

Let's talk about the spire, the spire is awesome and I really hope it gets built... there... we're back on topic.
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Old June 11th, 2014, 09:35 AM   #10145
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Seriously most beautiful design ever...

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Old June 11th, 2014, 01:56 PM   #10146
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Quote:
Originally Posted by Jay View Post
Okay enough about Chicago WTC, I keep thinking there's news on this thread but it's been the CWTC for the past page and a half now.

..
that is what usually happens when there is no news to discuss.
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Old June 24th, 2014, 08:44 AM   #10147
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We got some news!
__

According to an SSP insider, they are drawing up a budget to build the tower. Here's the quote from Skyguy 7 at SSP.

______
Quote:
"Within the last few days, DRAWINGS have been issued for budget pricing. This tells us that not only are they currently working on the financial side of the project, but also that they are serious about construction of the actual building itself, which some people have been doubting."
_______


What can we make of this ?

Well it's possible Kelleher already has everything figured out in regards to paying Related, and this is indeed plans for the Spire, how much it's going to cost, the budget etc...

Anyways, this is good news.
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Old June 24th, 2014, 08:57 AM   #10148
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Well, they certainly need to reconfigure the tower for more units to bring the prices down. It may also open the door to doing rentals which get financed more easily so this is a positive step. I'm hoping if the tower restarts next year, they can open into a good condo market and sell out. Chicago's on the turn, it's just a matter of time...
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Old June 24th, 2014, 10:10 AM   #10149
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Getting closer step by step!
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Old June 24th, 2014, 01:35 PM   #10150
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It's such a huge project for US that I still have some doubts but if it would really restart soon in original form.. Damn that would be the news of the year
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Old June 24th, 2014, 02:15 PM   #10151
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Quote:
Originally Posted by desertpunk View Post
Well, they certainly need to reconfigure the tower for more units to bring the prices down. It may also open the door to doing rentals which get financed more easily so this is a positive step. I'm hoping if the tower restarts next year, they can open into a good condo market and sell out. Chicago's on the turn, it's just a matter of time...
Being first to completion is important for prestige accommodation like this. It's going to take like five years to build this thing, so I'd imagine even if the climate isn't right now, it's good enough that the five year projections make the project viable.
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Old June 24th, 2014, 10:05 PM   #10152
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This is the proposal I was most eager to see go ahead during my studying absence. I'm very glad to see this manifest itself as a solid project with financing seriously being under preparation. Now that I have free time again I will follow this thread very closely. This building could make history as the US' first megatall and it's ticket back to the skyscraper race
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Old June 24th, 2014, 10:09 PM   #10153
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Wait there's a design change coming for this?
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Old June 24th, 2014, 10:18 PM   #10154
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From the last 2 pages I read it looks like the only changes were made to the interior layout, however don't take my word for granted, I was away from the forum for like 2 months
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Old June 25th, 2014, 03:49 AM   #10155
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l really do hope that this tower gets built.
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Old June 25th, 2014, 06:10 AM   #10156
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Chicago has Aqua. This is just a tall spiral.
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Old June 25th, 2014, 07:47 AM   #10157
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If it is built, we're probably ten years out from completion anyway so I'm just assuming this cancelled. If it's not, then we have a pretty awesome surprise. Good thing we have 25+ supertalls in the pipeline for the US!

PS: I like your new avatar, thatoneguy
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Old June 26th, 2014, 04:08 AM   #10158
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Long article, well worth the read:

What's Next for Santiago Calatrava's Troubled Chicago Spire?



Quote:
...The company solicited public opinions and turned around another redesign in January 2007—this one the current design, spiraling smoothly from the bottom to its narrowed, pointed top. In spring 2007, a year after its first design was approved, the Chicago Plan Commission, Zoning Committee, and City Council approved Spire version 3.0.

While this was the last official redesign, Antony Wood, Executive Director of the Council on Tall Buildings and Urban Habitats, can't conceive of the Spire's being built—if it is indeed built—without the team heading back to the drawing board yet again. "There's no way they're going to pick up a building that was designed 10 years ago and continue on that way," he told me, citing major changes in the market. While the Spire was conceived during the condo boom, the understandably conservative trend is now in rentals.

While the tip of the 1 percent—the Spire's target audience—remained unscathed by the Great Recession, Chicago's downtown luxury market did not. Due to a range of factors, from Millennial wariness at home ownership to higher loans needed for down payments on condos, rental apartment construction has exploded over the past few years, and more downtown Chicago residents are choosing rentals over condos. For a while, increase in demand led to a steep climb in prices, with luxury apartment costs rising 30 percent from 2009 to 2012. While demand has slowed and rent has begun to drop, the real question is whether the housing market has settled enough to urge residents into investing in condos.

Even with investor interest, the Spire faces an uphill battle in its hopes of achieving profitability. Projected to cost between $1 billion and $1.5 billion to complete, the Spire's condos would need to sell at around $800 to $1,000 per square foot to be economically viable. While this might be the norm for New York's ultra luxury market, Chicago's median is closer to $300 per square foot. Living in the Spire would be exceptionally costly.

To meet the cost, Shelbourne originally marketed heavily to overseas investors, who had purchased roughly half of the third of condos sold by June 2008, according to Shelbourne. Marketing the condos as investments, Shelbourne took the unusual tack of promising buyers a 7.5 percent return on their purchase price for two years before renting out the units—encouraging short-term leases and high mobility.

While the appeal of luxury condos to wealthy foreigners is apparent, what's less so is whether a stock of foreign-owned luxury units is beneficial for Chicago. "It doesn't seem clear that that's a thing that we should want," Daniel Kay Hertz, urban policy student at the Harris School and writer of the "City Notes" blog, explained.

In Manhattan, foreign buyers own about 50 percent of new development condos and 30 to 40 percent of the overall condo and townhouse market, a trend that has generated controversy and anger in locals. Blamed for spiking housing costs and shrinking housing space in Manhattan, the condos often stand empty, functioning as piggy banks.

While Chicago is a global city, it still lacks the business and political centrality of New York, and one massive structure is unlikely to set into motion a craze of foreign-driven luxury condo acquisition. But boosting housing appeal among foreigners does support Rahm Emanuel in his quest to make Chicago a more global city, which began with his campaign to host the NATO and G8 Summits in 2012 and manifested more recently with a push for nonstop service from Chicago O'Hare to Dubai and a request that the Chicago Council on Global Affairs devise a "foreign policy" for the city. On the tourism side, the city is aiming to hit 55 million annual visitors by 2020, and a glitzy luxury building, added to other projects underway, can only help that effort.

-----------------------------------------------------

While the Spire appears to be back on track, assuming Shelbourne can find investors and pay off its debts, the earlier soaring enthusiasm for the project has softened into a guarded, skeptical optimism. Chicago is a city that's seen big promises—the 2016 Olympic Games, the 2012 G8 Summit, the 2008 Chicago Spire—fall through.

The psychological impact of the Spire's rebirth—adding a new bauble to the skyline—is unfortunately immeasurable, though the right people could deduce its economic impact in dollars and cents (the consensus seems to be that it would be positive or neutral). At this point, the only people who matter are the mysterious potential investors: those willing to pony up to live in Calatrava's Spire.
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Old June 26th, 2014, 04:55 AM   #10159
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I think they'll build something but considerably shorter... maybe 1000-1500 feet?
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Old June 26th, 2014, 08:48 AM   #10160
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I think they'll build something but considerably shorter... maybe 1000-1500 feet?
This is really just speculation though, Kelleher and Atlas sounded pretty adamant about doing the exact same design as before, and not once has shortening the building been thrown out there.

This building is either going to sink or swim. Let's just hope Kelleher can tread water.
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