Power was selected by Oxford Capital to build Essex on the Park, a new 56-story residential tower with 479 units, and renovate the adjacent Essex Hotel. The hotel, to be called Hotel Essex, will be expanded to 273 guest rooms and will share amenities with the tower including a restaurant and sky bar. A multi-story winter garden within the tower will overlook Grant Park and include a pool and spa as well as gathering spaces for residents. This project, when completed, will provide much-needed affordable housing apartments in addition to market-rate units.
The first component of the project is the demolition of the existing parking structure which Power began in December. The new Essex on the Park residential tower and Hotel Essex will be completed in 2019.