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Originally Posted by Philly Fan
Thanks for the detailed explanation!  Just a quick follow-up question: why couldn't steel also be used for the residential portion, using walls, ceilings, and soffits for vertical and horizontal MEP runs, while also allowing more flexibility for layout variety and alterations in present use or future adaptive reuse (such as conversion from hotel to rental or condo or even office use, etc.). In other words, especially with the extended period required for construction of the transfer floor, it seems that steel would have provided advantages and flexibility without any disadvantages. So what am I missing? 
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Concrete is inherently fireproof; steel would require application of some product (not necessarily aesthetically appealing) or enclosure in a fire-rated assembly (costly) or a combination of the two, which adds depth. A concrete flat plate can economically achieve spans at a depth perhaps 60% of a steel framing grid (columns, beams and girders) ---in the DC-Metro area, where there are significant height restrictions, concrete is used because the shallower depth can mean the difference between a building having say, 6 or 7 stories. This also holds true for residential uses also unless the walls are bearing walls up to a point--an example of a steel-joist-bearing wall can be seen in the townhomes at 1601 Vine, where the slab and steel joists are pretty thin, only a little deeper than a concrete slab would have been, but do require a rated ceiling. However, should a user subsequently desire to "blow out that wall!!" like they do all the time on "Property Brothers" or "Flip or Flop" they might be shit out of luck (the wall is carrying the load) where in a concrete frame building, the columns do the work and the walls are truly partitions....is that what is meant by flexibility???
The ultimate answer is economics--a concrete frame may be more costly but it saves on fireproofing and some ceiling costs, can be shorter floor to floor thus reducing the amount of exterior wall cost, or possible allowing for more gross square footage to amortize total building costs over, and may be faster to erect than steel---and interest on a construction loan can be huge so shaving two months or more off the end to end schedule can make a difference.