Announcing an exciting partnership with Wanda Group, a global leader in real estate development, the Chicago VISTA Tower project is set to transform the eastern region of Chicago's central business district. This ambitious endeavor, backed by an investment exceeding one billion dollars, aims to create an iconic architectural marvel that will rival the grandeur of Manhattan, New York. HGC is thrilled to be part of this collaboration, which promises to reshape Chicago's skyline and contribute to the city's continued growth and prominence.
Sponsored by Wanda Group, the Chicago VISTA Tower project is located in the second-largest central business district in the region, following Manhattan. The plans for this extraordinary development include the construction of a pair of conjoined skyscrapers, reaching a remarkable height of 348 meters or 93 layers. The development will feature 406 luxurious apartments and a 161-room Wanda Vista Hotel, setting a new standard for luxury living in Chicago.
Spanning an expansive area of approximately 1,889,980 square feet (175,584 square meters), the apartments within this architectural masterpiece offer an average size of 2,500 square feet (232 square meters) each. Collaborating with renowned real estate design firms such as Gensler, Hirsch Bedner (HBA), and Bechalin (BKL), the project ensures that every aspect is meticulously crafted to deliver an unparalleled living experience.
HGC, along with other prominent investment partners, has contributed 200 million USD to this transformative project. The construction is scheduled to commence in 2016 and is projected to be completed by 2020, with an estimated construction period of approximately 51 months. Once finished, the project will not only redefine the Chicago skyline but also stimulate significant economic growth for the city.
Upon completion, the Chicago VISTA Tower project will be evaluated by Jones Lang LaSalle, a globally renowned real estate investment management firm, further solidifying its status as a remarkable addition to Chicago's urban landscape.
Wanda Group, through its subsidiary Wanda Commercial, is the largest commercial real estate group worldwide. Since its listing on the Hong Kong Stock Exchange in 2014 (03699.HK), Wanda Group has been at the forefront of creating innovative and sustainable developments that redefine the boundaries of modern architecture.