CHICAGO | One Bennett Park | 837 FT | 68 FLOORS

[BVictor1]

Originally Posted by KWILLSKYLINE

465 park is moving, how's this bad boy looking? How do you go about to convince a company to put up an oxblue camera at their site?

11/16/16

[kolchak]

Thank you BVictor1 for the rendering and construction update pics!

[BVictor1]

With the parking existing below the park, this tower is going to rise quickly.

11/21/16

[MCL]

[the urban politician]

Construction loan closed, as per Crains

[BVictor1]

Originally Posted by the urban politician

Construction loan closed, as per Crains

http://www.chicagobusiness.com/reale...ennett-park-in

December 01, 2016
Related Midwest lands $240 million construction loan for Streeterville tower

By ALBY GALLUN

The developer of a 70-story luxury residential tower in Streeterville has cleared another big hurdle, scoring a $240 million construction loan to finance the project.

Work on One Bennett Park, which will include 69 condominiums and 279 apartments, is already well under way, with crews currently pouring concrete for the building's fourth floor, said Curt Bailey, president of Chicago-based Related Midwest, which is developing the project. Related obtained the loan from a group of lenders led by Wells Fargo, he said.

“It's full steam ahead,” he said.

The loan, the biggest for a downtown residential project since the crash, accounts for 60 percent of the tower's expected $400 million cost. Bailey declined to identify the other lenders or discuss other forms of financing Related is using to pay for the project at 451 E. Grand Ave. In addition to equity and debt, developers will often use mezzanine financing, a secondary class of debt, to fund new buildings.

[10023]

What's happening to the rest of the site? Will there be a new park, or is it going to be another god awful massive podium with parking and movie theaters and the like?

[Kngkyle]

Originally Posted by 10023

What's happening to the rest of the site? Will there be a new park, or is it going to be another god awful massive podium with parking and movie theaters and the like?

It'll be a park, hence the address being One Bennett Park. It has underground parking so no awful podium.

[sentinel]

Originally Posted by 10023

What's happening to the rest of the site? Will there be a new park, or is it going to be another god awful massive podium with parking and movie theaters and the like?

This was the original park design (at grade, or very slightly above) designed by Hargreaves (sorry for the ridiculous size ):


http://www.chicagorealestatesource.c...e-development/

and this is what the re-designed park will look like, designed by Michael Van Valkenburgh:

http://chicago.curbed.com/2016/2/17/...am-stern-tower

[harryc]

Dec 06




Walking on the ceiling






Getting ready for a stressful holiday. (post tension cables)



Patterns




Rebar in the columns


And yes they have not forgotten about the park

[KWILLSKYLINE]

Nice shots harry. The amount of rebar in those columns show how tall and slender this thing will be. Question about the park. Does it make approval from the city easier when they make it a park accessible to the public? what if they built a block of two level retail and made a private park on top of that for the people living in the building? How much would that change the cities mind of this building? To my knowledge that whole park area is owned by the developer, and not the park district. I could be completly wrong though.

[the urban politician]

^ It was already a public park before this. I don't know the ownership arrangement, I guess privately owned but with some easement with the CPD?

[maru2501]

going kind of quickly

[RobEss]

I thought this piece of playground equipment looked familiar...


...because there's one located in Brooklyn Bridge Park.

[ithakas]

Originally Posted by maru2501

going kind of quickly

Yeah, it seems like it's close to the point where it will start shooting up a couple floors a week. Excited to see it rise – I can still remember going to McClurg Court in middle school when that area was a sea of parking lots.

[Mr Downtown]

Chicago Park District will no longer accept parks smaller than a few acres in size. That's one of the things that screwed us on the British School in the South Loop. This "park" will be privately maintained open space that's supposedly open to the public, as it was before.

(The reason I say supposedly is that the British School's security guards recently ordered me to leave the ground level "park" at 9th and Financial, because the building across the street "is a private school.")

[denizen467]

^ Speaking of tiny parks, how are the 2 mini parks recently built atop the Congress-Wacker cloverleaf? Do they get much use or do they function essentially as private dog runs for residents of the adjacent residential towers?

From aerial view it looks like the publically open portions are small fractions of the whole green space, so they're really more like micro parks.

[HomrQT]

Originally Posted by RobEss

I thought this piece of playground equipment looked familiar...


...because there's one located in Brooklyn Bridge Park.

If there's somewhere we'd take our cues from, NYC is one hell of a role model.

[spyguy]

[KWILLSKYLINE]

Nice find spyguy^^^