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March 2019

Found 2 blog entries for March 2019.

Sterling Bay Michigan Ave Tower

 

Seems like 300 N. Michigan Avenue may be getting a new 47-story tower in the middle of all the action! Sterling Bay, without a doubt, has been busy this year. They are currently closing in on final approval for their Lincoln Yards development, the biggest project the area has seen.

The tower plans for Michigan Avenue will include 280 hotel rooms and 290 residential units. This information was given by Alderman, Brendan Reilly. Sterling Bay owns a vacant building on the corner of Michigan and East Wacker. The proposed Tower is supposed to replace  the current building if the project moves forward.

This 523-foot building will consist of 29 floors of residential units and a hotel on the lower 10 floors. The Tower would also include 25,000 square…
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Sterling Bay’s latest tweak made Lincoln Yard buildings less dense and shorter. The revision to their $6 billion mega project was made in hopes of winning City Council approval. Aldermen have expressed that they plan to oppose the development, which is another reason for their revision.

In their new proposal, Sterling Bay reduced their largest skyscraper 650 feet to 595 feet and the developments scope from 15 million square feet to 14.5 million square feet.  On top of that, Alderman Brian Hopkins confirmed that Sterling Bay has agreed to double their affordable housing on Lincoln Yards, which is something he pushed for.

However, Zoning Committee Chairman Alderman James Cappleman (46th) has yet to comment if he is satisfied with the latest changes.

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