Chicago developer, Habitat, is planning to build in the Fulton River District. Habitat understands that building residential units where big office towers are located is a good idea! Due to two new office buildings opening in the area, they believe the Fulton River District to be the best possible area for their residential project. AND, their building is close to the Fulton Market District, where Google, McDonald’s and Mondelez are ready rooted. There are also office developments underway that have estimated completion dates of 2021 – 2023.
The 343-unit apartment tower will be located at 344 N. Canal Street.
The site where Habitat plans to build the tower was once owned by family Cassidy Tire & Service. Habitat recently signed an agreement to purchase the land.
However, Habitat has plenty of hurdles to get through first. The site where they plan to build their tower does not allow residential buildings. So, Habitat is seeking a zoning change from the City of Chicago. Once approved, downtown Ald. Brendan Reilly must hold a community meeting to say “yes” or “no” to the proposal. A meeting date has not been scheduled yet.
Habitat developed multiple residential projects nearby, including Hubbard Place, Kingsbury Plaza and Kinzie Park. The residential developer and landlord isn’t new to the process!
We will continue to keep you updated on the progress of this development and whether or not this strategic development will move forward!