CHICAGO (CBS) — Developers have unveiled plans for two waterfront towers that would fill the long-vacant site where the ambitious but doomed Chicago Spire project would have been built.

Project developer Related Midwest held the first community meeting Tuesday night on the new design from One World Trade Center architect David Childs. It would include two towers, including the tallest erected at the mouth of the Chicago River.

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One tower would soar to 1,100 feet, and the other would top out at 850 feet. Both would fill what has become the most famous hole in the city since the bold 2,000-foot Spire project fell victim to the recession a decade ago.

Rendering of two new towers planned for 400 N. Lake Shore Dr., the site of the failed Spire project. (Credit: Related Midwest)

The taller building would include 300 condominiums and a 175-room luxury hotel. The other tower would include 550 apartments.

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Related Midwest has said the two towers would be built at the same time, and would include a shared four-story atrium featuring a motor court, parking garage, meeting rooms, and a ballroom.

Rendering of two new towers planned for 400 N. Lake Shore Dr., the site of the failed Spire project. (Credit: Related Midwest)

The project would connect to the Chicago Riverwalk, and create nearly five acres of public green space.

Only four existing buildings in Chicago would be taller than the larger of the two towers: Willis Tower, Trump Tower, the Aon Center, and 875 N Michigan Av (formerly the John Hancock Center). Two other buildings planned for downtown, but not yet built, also would be taller when completed – Vista Tower and a proposed skyscraper planned as part of the redevelopment of the Tribune Tower site.

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When paired with the Vista Tower on the south bank, the mouth of the Chicago River and the overall skyline would be dramatically changed.