'A civic embarrassment': With more than a decade as a hole in the ground, new plans for the Chicago Spire site
CHICAGO (CBS) -- Fifteen years ago, a world renowned architect planned to bring the Spire to Chicago a giant luxury condo building with sky high prices.
Years later, all that's there is hole in the ground, at a prime spot by the river and the lake. Now, a new project may actually come to life there.
After more than a decade as an empty plot, construction is set to start later this year at 400 Lake Shore Drive. CBS 2's Sabrina Franza explained the new tower project Thursday.
"It's been a civic embarrassment."
Before the great recession, in 2007 there was a groundbreaking for what was meant to be the Chicago Spire, a 2,000-feet tall, twisted skyscraper. destined to change the city skyline.
It never happened.
"It's been just sitting there. A giant embarrassing hole ever since."
Blair Kamin is the former Chicago Tribune architecture critic. In 2014, developer Related Midwest acquired the site proposing two sister towers with more than 1,000 luxury apartments hoping to fill the hole.
"They're trying to form a gateway from the lake into Streeterville and the North Michigan Avenue area," Kamin said.
The plan received city approval. Then the 2020 pandemic happened. Now, another groundbreaking is planned for the end of 2022.
"No one likes to see a big hole in the ground, an empty space."
Meggan Teague has lived in Streeterville for over a decade and said she's been looking at the empty space for just as long.
"I hope this brings more families and residents to the neighborhood."
Aside from finally breaking ground on this residential project, the people that live here have told us they're even more excited for the park that's planned for across the way.
The DuSable Park won't be built until the towers are completed though.
"The developers plan to use the site for the park which is east of Lake Shore Drive as a construction staging site," Kamin said.
The timeline for that is a long time coming. CBS 2 received a statement from the developer:
400 Lake Shore Drive will transform the City's skyline by paying tribute to Chicago's architectural heritage through two meticulously designed residential towers. Related Midwest has a long history of building state-of-the-art housing in Streeterville, including 500 Lake Shore Drive and One Bennett Park and a top-of-the-line 2-acre park for all neighbors to gather in and enjoy.
In addition to the residential properties, Related Midwest is collaborating with the Chicago Park District and has donated $10 million to build DuSable Park and DuSable Founders Way– which will complete the pedestrian experience from Michigan Avenue to Navy Pier. Construction will begin this year and create more than 2,600 jobs for local residents.