CHICAGO | St. Regis Chicago (Vista) | 1,191 FT | 101 FLOORS

[Domer2019]

Originally Posted by kolchak

Didn't this tower already secure a construction loan to the tune of several hundred million?

Per the linked article ^

Does that mean the project is at risk?

Not at the moment. But there’s political risk in China, which could lead to financial risk here. If companies fall out of favor with China’s rulers, they can suffer. The Chinese government has been pressuring banks to decrease lending for big overseas property investments. Vista Tower has a $700 million construction loan from a midtier Chinese bank that has a portfolio heavy with nonperforming debt. If Vista’s loan falters or the Chinese government compels the bank to scale back, the project or its bank might be forced to find a new lender to keep money flowing to contractors. That could cause delays.

http://www.chicagomag.com/Chicago-Ma...7/Vista-Tower/

[BVictor1]

09/24/17





From the StudioGang website...

[Via Chicago]

Originally Posted by the urban politician

I highly doubt we will see another global financial meltdown ala 2008

with all respect, you have no way of predicting this and neither does anyone else, otherwise we'd all be doing something different with our lives. we do have history to draw upon however, and seeing as we're in the midst of the second longest bull market in United States history, i think its fair to expect that, as always, the music ends at some point. the only thing thats certain is we're one day closer to it today than we were yesterday.

[Skyguy_7]

https://www.earthcam.com/clients/com...name=timelapse

There's a timelapse available, thanks to the webcam. It's mesmerizing.

[LouisVanDerWright]

Originally Posted by Via Chicago

with all respect, you have no way of predicting this and neither does anyone else, otherwise we'd all be doing something different with our lives. we do have history to draw upon however, and seeing as we're in the middle of one of the longest bull runs in United States history, i think its fair to expect that, as always, the music ends at some point.

There will be a contraction, but you have to realize this was also the second worst financial meltdown in US history. The last one of this scale being 80 years prior. These events don't happen on that frequent of a basis. What we are risking now is serious risk of stagflation if the Fed doesn't handle the unwinding of QE correctly. Fed president Evans was just saying again today that we shouldn't raise rates further until we see inflationary pressures. Given the out of control nature of the RE market right now I suggest those pressures are already here and that continuing to hold policy at levels that have never been reached in history prior to the crash is anything but responsible. You are correct in that we don't know what is going to happen, but not because another 2008 is around the corner. You are correct because some other monster already lurks in the shadows and we have been opening all kinds of mystic portals with black magic that's never been done before through which any number of demons may leap.

[UPChicago]

Studio Gang probably has the lousiest 3d artist of any architectural firm of its prominence.

[Via Chicago]

Originally Posted by LouisVanDerWright

You are correct because some other monster already lurks in the shadows and we have been opening all kinds of mystic portals with black magic that's never been done before through which any number of demons may leap.

right, this is more what i was getting at. im not saying things will play out exactly as before, it never happens that way although there may be similarities.

[aaron38]

Originally Posted by Skyguy_7

https://www.earthcam.com/clients/com...name=timelapse

There's a timelapse available, thanks to the webcam. It's mesmerizing.

What's the big hole that they left in the podium on the south side, in line with the street? It's too big for a tower crane, and not being used for one. A skylight for the parking garage? Stairwell?

[the urban politician]

Originally Posted by Via Chicago

with all respect, you have no way of predicting this and neither does anyone else, otherwise we'd all be doing something different with our lives. we do have history to draw upon however, and seeing as we're in the midst of the second longest bull market in United States history, i think its fair to expect that, as always, the music ends at some point. the only thing thats certain is we're one day closer to it today than we were yesterday.

That's all fine, but at the end of the day the only thing that can threaten this project at this point is the Chinese Government.

My guess is that the development team is going to move as fast as possible to get this thing to about 75% built, so that buyer confidence will emerge and they will start signing contracts.

Another factor is this: the farther along this project goes, the more pressure the lender will be under to make sure that this project gets finished--if they ever want to get their money back. It will not behoove the Chinese Government to see that one of their own banks just threw hundreds of millions of dollars into a hole. There would be tons of political pressure by developers like Wanda as well as Chinese banks on the Chinese Government to AT LEAST let them finish the projects that they've already started and are well under way.

[LouisVanDerWright]

At this point there is no real risk to this project. Magellan is backing it. If Wanda and the bank both fail to hold up their end of the bargain I'm sure Magellan's JV or partnership agreement is set up to blow them out and give Magellan control of the project at which point they will probably end up benefiting as their partners failed to provide what they promised. Then they will just get new financing from someone else (or fund it with their own cash as Lowenburg must be worth at least a billion dollars by now).

Originally Posted by aaron38

What's the big hole that they left in the podium on the south side, in line with the street? It's too big for a tower crane, and not being used for one. A skylight for the parking garage? Stairwell?

It's probably a port for a to be installed skip. There was a hole on the North East side that now houses the first skip. I would expect a tower of this scale to require at least four lifts (two sets of two).

[Zerton]

Originally Posted by UPChicago

Studio Gang probably has the lousiest 3d artist of any architectural firm of its prominence.

They're like OMA (where Jeanne Gang worked before she started Studio Gang). OMA/Studio Gang are really great at diagrams and diagrammatic/stylized renderings. They don't really do great photo-realistic renderings.

[City Wide]

Originally Posted by scalziand

Nice how you can see the contrast between the higher strength concrete for the columns and the concrete for the floor plates.

Is the high strength the darker colored concrete of the floor plates around the columns? If so, is that poured separately from the regular concrete? Those areas don't seem to be formed up separately. From other photos its very clear that these areas are dense packed with rebar.

[jc5680]

Originally Posted by City Wide

Is the high strength the darker colored concrete of the floor plates around the columns? If so, is that poured separately from the regular concrete? Those areas don't seem to be formed up separately. From other photos its very clear that these areas are dense packed with rebar.

This was a bit of discussion about this several pages back - The summary is that they drop the different mix with a bucket over the columns when the rest of the slab is poured with the pump.

If you go back on the web cam you can see the mounds placed a little ahead of the rest of the pour.

[donnie]

Anyone else like the original design ovef the the new one like me? Such a shame

https://www.chicagoarchitecture.org/...s-cut-in-half/

[Domer2019]

Originally Posted by donnie

Anyone else like the original design ovef the the new one like me? Such a shame

https://www.chicagoarchitecture.org/...s-cut-in-half/

If you look at the wider renderings of Vista with the old GEMS design (1st page has that with both Gang designs), it seems like 8 floors might match the shorter height of the central lobby area and eastern section of Vista better. Especially now that the orientation of the tower now has the shortest on the east side, a 13 floor GEMS doesn't continue that pattern anymore. I like the old design with the cutout, but I also like the two floor glass (and interior?) on 6-7 with the new, and how it works in context.

[harryc]

Sept 26

[donnie]

Excellent pictures thank you!

Now they need to update the minature model next to the Vista by cutting it in half!

[Notyrview]

Nice shot, can't be long now until 💎

[10023]

I got a small peak at this from the Gleacher Centre on Tuesday. It's going to be massive.

Surprising as well how many people there (who aren't skyscraper nerds at all, or even involved in real estate) were aware of what it was going to be and had seen the design. That's a Chicago thing, I think.

[SolarWind]

September 25, 2017