Upon completion, anticipated in 2010, the project will rise on 2.2 acres at Lake Shore Drive and East North Water Street, as well as near the confluence of Lake Michigan and the Chicago River. The tower, designed by architect and engineer Santiago Calatrava, will consist of 150 hotel rooms on the lower 25 floors and 300 condominiums on the upper floors.

The unanimous vote to move forward with the building represents the final approvalhurdle for the Fordham Co., which is developing the tower. Last week, the proposal was endorsed by the city's plan commission.

The approved proposal incorporated changes to the original plans including alterations to the spire and tower structure. Under the new plan, the tower's spire will rotate a full 360 degrees, providing a tighter twist to the design; and ringed by a circular plaza, the tower will rise straight out of the ground rather than from a tiered four-story podium.