[8] Despite the financial crisis of 2007–08 and the resulting softening market in 2007, Gerald Fogelson, co-chairman and chief executive of Central Station Development Corp., had sought approval for a 73-story Grant Park Tower III at the 113 East Roosevelt location in 2008.

[9][10] An 83-story Grant Park Tower IV at Michigan and Roosevelt was also planned to begin preconstruction sales in 2009.

[14][15] In 2018, the name was changed again to NEMA, short for "New Market," a lifestyle brand with sister buildings in San Francisco and a project in development in Boston.

[17][18] In mid-2019 Crescent Heights refinanced its original construction loans with KKR Real Estate Finance Trust in order to lower its interest rates by about 80 basis points.

To its west Phase II of the development will occur and will be a residential building at Roosevelt Road and Michigan Avenue.

Phase III of the development is for townhouses and a public park on Indiana Avenue to the east of the two towers.

[22] The building has 70,000 square feet of amenities,[28] including an outdoor Grant Park and Lake Michigan viewing platform; co-working space; a fitness center and spa with basketball, squash, yoga and a regulation-size boxing ring; golf simulator; indoor / outdoor swimming pool; game room; kids room; and a private dining ballroom.