Despite receiving approval from the city’s Plan Commission on Thursday, the developers of two Fulton Market projects still have a lot to figure out.
On Thursday, the city’s Plan Commission approved the construction of a 16-story Standard Hotel and an additional 11-story apartment building, both located on W. Randolph St. But many have voiced their concerns over the construction due to the increase in traffic and proximity to Union Park.
The 259-room hotel, a venture by New York-based DDG and Chicago-based Marc Realty, will be located at 1234 W. Randolph St. in the West Loop/Fulton Market area. The hotel will not provide any parking options and will rely solely on valet services, causing a huge increase in traffic in the already congested area. A neighbor complained at last month’s meeting, according to Block Club.
A supervising zoning plan examiner on the project, Noah Szafraniec, said he wouldn’t sign off on the project until he saw a detailed valet plan.
An earlier plan called for a 23-story hotel at the site, a converted industrial dairy facility. It’s been revised, and construction could start in the spring if the city council approves it.
As The Real Deal previously reported, there’s a glut of hotel development planned for the Fulton Market District, and it’s unlikely that demand will be as high as the supply.
Additionally, a 243-unit apartment building, developed by Marquette Companies has also been approved by the Plan Commission. The developer plans to renovate and extend an existing five story office space located at 1440 W. Randolph St. This project will help to fulfill obligations under the city’s Affordable Requirements Ordinance passed earlier this year providing nearly 50 affordable units both on and off-site.
Ald. Walter Burnett Jr. (27th) has vocally opposed the project.
“I have a problem with this one because it’s across from the park,” he said during a meeting. “People that go into the building are going to be complaining to me. The complaints won’t come to you.” [Block Club] — Jacqueline Flynn