Quote:
Originally Posted by griswold
What would be the reason for building that tower in phase 2? Seems odd to not have included it in phase 1 since the rest of the site has been part of it.
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Quadreal (and West Bank) were still revising the project, and submitting a new rezoning for the subsequent phases of construction, a year after work started on the current Phase 1, which commenced in 2019. They expanded the scope of the first phase, and closed the mall entirely when covid hit sales for the mall's retailers, so they were already committed to a significantly expanded program that must be costing north of three billion dollars.
The revised rezoning switched Tower 5 (the tallest) from strata to rental, and it will now have nearly 600 units, if built as revised. Overall the revised rezoning added nearly 800 more units (mostly rental), reduced the area of retail, and increased the office space to be built. It's now estimated at costing at least $6.5 billion, once it's complete.